Broadband TV News: Shopping Channel news - Ideal World to relaunch later this week on Virgin Media via 5USA

Story from Broadband TV News:

Vaibhav Global Limited, which runs the TJC shopping channel, has acquired the assets of Ideal World Ltd.

The Peterborough-based homeshopping channel brought in insolvency experts in July after suspending broadcasts and leaving the majority of its 275 staff under threat of redundancy.

Under the agreement, Vaibhav Global subsidiary Shop TJC will acquire the Ideal World’s IP rights, broadcasting rights, studio equipment along with other intangible assets. The transaction will be funded through internal accruals.

Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited, said, “We welcome Ideal World to VGL group. Over the years Ideal World has created a unique position for itself in the teleshopping industry. We expect this transaction to create synergies and help us continue market leading growth.”

Ideal World launched in 2000 as a British alternative to the US-style QVC that had launched in the previous decade.

• Ideal World will be shown on Virgin Media UK via 5USA from 6am up to 10am every day on Virgin Channels 120/162/320.
• NOTE: TJC Beauty will close on September 28th at 23.59 to make way for Ideal World will reappear from Midnight on Thursday Night (September 29th.)