Virgin Media sells shopping channels


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<img src="/images/aurelius.gif" border="0" alt="Aurelius" title="Aurelius" hspace="4" align="right" />Munich-based industrial holding AURELIUS has acquired sit up Ltd., from Virgin Media. The signing of the acquisition agreement and transaction were completed today.<br /><br />With its three digital home shopping channels bid tv, price-drop tv and speed auction tv the company’s live programs are available to viewers in more than 20 million homes throughout the UK. Launched in 2000, sit up Ltd. generated revenues of GBP 242 million in 2008.<br /><br />Dirk Markus, CEO of AURELIUS, comments on the rationale behind the transaction: “Since our acquisition of RTL Shop in Germany, we have become very familiar with the home shopping business model. We are excited about extending our presence in this market, especially since this is one of the few areas of growth in retailing.”<br /><br />The purchase price or terms of the agreement have not been disclosed.

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