March 25, 2019

CJ O Shopping becomes sole operator of Mexico unit

PUBLISHED : April 13, 2018 - 14:13

UPDATED : April 13, 2018 - 14:13

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

[THE INVESTOR] CJ O Shopping has acquired the entire shares of its Mexican 50:50 joint venture Televisa CJ Grand, according to industry sources on April 13.

South America’s top media group Televisa reportedly signed a contract to hand over its stake to CJ O shopping in February this year for around 5.1 billion won (US$4.76 million).

Korean home shopping operators usually enter foreign markets with a local media group as it is otherwise difficult to launch and operate a channel. Having stabilized operations of its current channel the Korean firm decided to obtain all the rights. Televisa had no objection since it is seeking to reorganize its business portfolio and focus on a few of its main businesses, sources said.

Before the acquisition, CJ O Shopping was responsible for managing the home shopping contents and Televisa took care of managing the channel and local marketing. The JV was established in 2015.

With this acquisition, the company plans to further expand its business in South America and start making profits. Televisa CJ Grand has been seeing an annual operating loss of around 6 billion won on average over the last three years.

By Song Seung-hyun (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. 아 04099