Privately held Jewelry Television has agreed to buy E.W. Scripps's Shop At Home web and TV retailing unit for $17 million, reports MediaWeek. Jewelry TV said it would continue operating Shop At Home, placing the assets (real estate, satellite uplink facilities and all web-related operations) under a company called Shop At Home Network LLC.
Jewelry TV employs more than 2,000 people and is based in Knoxville. Since its acquisition by Scripps in October 2002, Shop At Home has lost approximately $84 million.
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