Private Equity group Aurelius has spent the last year stripping the Peterborough-based Ideal Shopping Direct. Its remains have been sold to investor Hamish Morjaria.
The sale follows major management changes at Ideal Shopping Direct at the beginning of the year, the sale of its CCXTV business to UKTV Media in 2020 and the sale of Create & Craft to Hochanda. Former management also traded Ideal World’s high-ranking Freeview slot with TJC before selling up. This resulted in Ideal World moving from channel 22 down to 51. The so-called LCN trade was the first allowed under new Freeview channel allocation rules.
Ideal Shopping Direct was sold for an undisclosed sum to Hamish Morjaria, according to the Peterborough Telegraph. Morjaria has held senior leadership roles in global technology, distribution, wholesale and retail companies for the past 20 years.
The transaction completed on Tuesday 15th February.
Commenting on the deal, Morjaria said: “Ideal World presents a really exciting investment opportunity. There is a talented team in place. It’s multi-channel with both an online and TV channel offering. It has a loyal customer base, established infrastructure and the potential to extend content onto social media.”
Ideal Shopping Direct’s most recently published annual report confirmed it was focusing on developing its online presence. It told investors “to protect Ideal Shopping Direct against any potential decline in TV viewers in the future, the company plans to develop the group into a primarily online provider. To this end, the launch of an online ‘marketplace’ is an exciting prospect over the coming years.”
Ideal World currently also has a three hour window of live programmes each night on ITV.
Create & Craft changes
Meanwhile, former subsidiary Create & Craft is about to relaunch under its new owners Hochanda Global. The new format goes live next week. Under Hochanda, Create & Craft will revert back to 60 minute presentations. Create & Craft’s programmes will appear on Freeview channel 85, as well as on Sky and Freesat.