Munich-based Aurelius, the company that owns Germany’s RTL Shop, has acquired Virgin Media-owned shopping group Sit Up Limited.
Sit Up’s three-channel portfolio comprises Bid TV, Price Drop TV and Speed Auction TV and is available in 20 million homes. However, Sit Up was outbid on part of its terrestrial capacity when the initial contract on the Freeview slot came to an end at the end of last year.
“Since our acquisition of RTL Shop in Germany, we have become very familiar with the home shopping business model. We are excited about extending our presence in this market, especially since this is one of the few areas of growth in retailing,” said Aurelius CEO Dirk Markus in a prepared statement.
Launched in 2000 by former ITV Digital directors Ashley Faull and John Egan, Sit Up’s 2008 revenues were £242 million. The purchase price has not been revealled.