South Korea - CJ Group's acquisition of a controlling stake in Korea's OnMedia Corp will create an 18 channel pay-TV offering with reach of around 3 million homes. CJ Group has bought a 55.2% stake in OnMedia from shareholders including HSBC and Orion Corp. Reports say the acquisition has been placed under subsidiary CJ O Shopping; that unit's president Lee Hae-sun is quoted as saying the takeover is part of efforts to bring together media and shopping services. The deal is still subject to … [Read more...] about High auds may hamper CJ’s acquisition of OnMedia Corp