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April 3, 2009

Virgin Media selling shopping channels


by David Allen

The shopping group, Sit Up Ltd, has been sold to the German based company Aurelius, which also owns the German RTL Shop, by the cable broadband and TV provider Virgin Media.

Sit Up Ltd, which currently comprises three shopping channels - Bid TV, Price Drop TV and Speed Auction TV - is currently available in some twenty million homes, and showed revenues of around £242 million for the year 2008.

However, problems started when it was outbid for slots on the free-to-view digital broadcaster Freeview, when its initial contract came to an end late last year.

Sit Up Ltd was launched during 2000 by a duo of former ITV digital directors, Ashley Faull and John Egan.

There has not been any mention of the purchase price yet.

Story link: Virgin Media selling shopping channels


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