Television: Home shopping channel ValueVision International launched...

Television: Home shopping channel ValueVision International launched a hostile bid for infomercial giant National Media Corp., offering $61.2 million, or $10.50 a share, for enough stock to seize control. The bid values National Media at $146 million. ValueVision, which already owns 1.2 million National Media shares, promised to offer the equivalent of $10.50 a share for the remaining shares if it succeeds in gaining a 50.2% stake. National Media has grown through infomercials such as “Juice Tiger,” “Amazing Discoveries” and a pain relief infomercial staring Frankie Avalon. National Media’s directors spurned a previous ValueVision offer. ValueVision has retained Salomon Bros. to help with financing. National Media declined to comment.