Jewelry Television, the Knoxville, Tenn.-based home shopping network that is the No. 15 retailer of fine jewelry in the United States, is finalizing an agreement to purchase some assets of Shop at Home, which will go off the air June 22. The E.W. Scripps Co. is discontinuing Shop at Home after the network lost $84 million over the past four years, according to trade publication Multichannel News. The media company attempted to sell the network but could not find a buyer, so it decided in May to shut down the network.

In a statement, Jewelry Television COO Joe Fields said things would be business as usual at the network. "We have no plans to move staff to Nashville or interrupt Jewelry Television operations in any way. The acquisition of Shop at Home's assets simply fits our growth strategy."