HomeShop18, Shop CJ confirms merger today

TV18 Home Shopping Network Ltd (HomeShop18) and Shop CJ Network (Shop CJ) have completed the merger today making the combined entity largest TV home-shopping network in India.

Homeshop18 (a subsidiary of Network18 Media and Investments) and Shop CJ Network had announced the merger of businesses of both entities last year in September.

Network18 Media and Investments in a BSE filing said, "...pursuant to the completion of the transaction, TV18 Home Shopping Network Ltd and NW18 HSN Holding Plc cease to be subsidiaries of the company."

In the combined entity, Network18 would continue to be the largest shareholder in the combined entity. Post the completion of the transaction, Shop CJ shareholders hold 25 per cent.

HomeShop18 in a statement said, the combination with Shop CJ would make it the largest TV home-shopping network in India. "The resultant benefits of scale shall better the growth prospects for the combined entity, allowing it to improve its standing in the TV home-shopping landscape and compete better with the challenge from e-commerce players.”