Scripps inc., the parent company of the Shop At Home TV Network,, the fourth-largest video retail network, has decided to close the network effective June 22, 2006, after a worldwide search for a buyer or investor came up empty. Reportedly, there was some bonafide interest on the part of an investor or group of investors, but they wanted Scripps to contribute and remain part owner/investor in the network, something that Scripps was not interested in doing. Once this option failed to materialize, the deal fell apart and the network's fate was sealed.
According to an interview I had with one of Shop At Home's top executives just recently, with so many cable networks available today, the plan was for Shop At Home to acquire a number of low power tv stations in critical markets over a period of time. Then, because of the "must carry" legislation, local cable operators would be obligated to find space to carry the network.. The plan was solid, but expensive: somewhere to the tune of $200 million when all was said and done. Shop At Home does own five low power tv stations now, which they plan to sell off. They estimate the total viewership of these stations to be right at 5 million homes.
This news hit me kind of hard because for awhile I was selling my line of fine gemstone jewelry at Shop At Home, and made many friends during my stay. All of us here at Dan Dennis Dot Com wish all of their employees nothing but the best in the future.
The Shop At Home TV Network broadcasts live 24/7 from it's facilities in Nashville, Tennessee.
