Media
Virgin Media has sold Sit-Up TV, the operator of shopping channels Bid TV, Price-Drop TV and Speed Auction TV, to Munich-based Aurelius.
Sit-Up was fully acquired by Virgin Media forerunner Telewest in 2005 for £194m. Last year, Sit-Up generated £242m of revenue. Financial terms of today's deal have not been disclosed.
"Since our acquisition of RTL Shop in Germany, we have become very familiar with the home shopping business model," said Aurelius chief executive Dirk Markus. "We are excited about extending our presence in this market, especially since this is one of the few areas of growth in retailing."
Sit-Up was fully acquired by Virgin Media forerunner Telewest in 2005 for £194m. Last year, Sit-Up generated £242m of revenue. Financial terms of today's deal have not been disclosed.
"Since our acquisition of RTL Shop in Germany, we have become very familiar with the home shopping business model," said Aurelius chief executive Dirk Markus. "We are excited about extending our presence in this market, especially since this is one of the few areas of growth in retailing."
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