LONDON (Brand Republic) - UK cable operator Telewest has entered into an agreement with Sit-up, the founders of a live auction TV channel, to develop a business focused on interactive TV.
Sit-up, which launched live auction TV channel Bidup.tv last October, will pay Telewest £10m for its home-shopping channel Screenshop. At the same time, Telewest will inject £14.8m into Sit-up for a 38% stake in the newly created interactive TV business.
Sit-up was launched by Ashley Faull and John Egan, two of the founders of ONdigital.