MANILA, Philippines - ABS-CBN Corp., the country's leading information and entertainment multimedia conglomerate, is teaming up with South Korean conglomerate CJ Group for a new TV home shopping venture.
In a disclosure to the stock exchange, ABS-CBN said it is investing at least P200 million in a joint venture with CJ O Shopping, one of the world's largest home shopping companies.
"The joint venture, A CJ O Shopping Corp., combines the strength of the two industry giants to empower Filipinos with information about reliable and world-class products that they can obtain through time-saving purchasing process," ABS-CBN said.
The O Shopping channel has started broadcasting 24/7 shopping programs via SkyCable and Global Destiny on Channel 11, as well as programs through ABS-CBN’s Channel 2 and Studio 23 last October 15.
CJ O Shopping is the cable home shopping channel of South Korean conglomerate CJ Group. CJ O Shopping has entered several Asian markets, including China, India, Japan, Vietnam and Thailand.