Star India sells shopping channel stake
Star India has sold its 50 per cent stake in Star CJ, a home shopping channel, to US private equity company Providence Equity Partners. Star CJ’s other 50 percent is held by South Korea’s CJO Shopping.
Star CJ was launched in September 2009 as a 6-hour programming block, and expanded to a 24-hour service in 2010.
Local reports say that the move is further confirmation that Star is getting back to basics, and investing in expanding its sports coverage and entertainment channels.