Zee Media Corp. Ltd said it is entering the television shopping business by acquiring a stake in two India Today Group companies. The company which operates Zee News and Zee Businesschannels said it has bought 80% stake in Today Merchandise Pvt. Ltd (TMPL) and Today Retail Network Pvt. Ltd (TRNL). Both TMPL and TRNL are subsidiaries of Living Media India Ltd, which owns the India Today Group of publications.

The target companies are developing infrastructure for launching a television shopping channel and operate e-commerce website baggittoday.com to complement the TV shopping business. By June, Zee Media will acquire 49% stake in both the companies by investing Rs.39.78 crore by subscribing to equity shares of both companies and gain managerial and operational control over them.

Retail Network Pvt. Ltd was incorporated in 2007 and Today Merchandise Pvt. Ltd was set up in 2010. Both companies are based out of New Delhi.