Reno-based Gems TV has announced that they will be ceasing US operations and are seeking to acquire a 37.8% stake in the parent company of their much larger, Jewelry TV rival.
The offer includes cash, inventories along with 'other assets and intangibles', which based upon news reports may include the technology and practices behind Gems TV's reverse auction method.
Currently JTV operates exclusively with a fixed-price model and whether or not the the stock purchase takes place, Gems will be refocusing entirely upon foreign markets.
Tuesday, March 9, 2010
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