Rupert Murdoch’s Star India has exited the home shopping business by selling its entire 50 per cent stake in Star CJ to American private equity firm Providence Equity Partners. The remaining 50 per cent stake is with South Korean home shopping major CJ O Shopping Co Ltd. The financial details of the deal could not be ascertained. Star and CJ O are believed to have invested close to $55 million in the JV. Star CJ came into existence in September 2009 as a six-hour slot on free-to-air channel...
Star offloads 50% stake in Star CJ to Providence, exits home shopping biz
Star offloads 50% stake in Star CJ to Providence, exits home shopping biz