The company has shortlisted six agencies for the business: Claydon Heeley Jones Mason, Craik Jones Watson Mitchell Voelkel, EHS Brann, Grand Union, Harrison Troughton Wunderman and 23red.
The relaunch campaign will feature a heavy direct component, press and outdoor advertising.
The brief includes a brand overhaul of HomeChoice that will see it ditch the Bolshevik character employed to front the service since its launch three years ago.
Duckworth Finn Grubb Waters was behind the launch campaign, which positioned the firm as a revolutionary force freeing viewers from conventional TV schedules. However, the account has been dormant for some time.
The review is being conducted through the AAR. Former NTL marketing director Jeremy Davies, who is acting as a marketing consultant until Video Networks recruits a full-time marketing chief, is overseeing the pitch.
A media review will follow. Starcom Motive handled the launch media activity.
HomeChoice has only 5000 customers in the London area, down from a peak of more than 10,000. "We need to make the proposition more compelling to potential customers," said Davies.
Video Networks radically shrunk its operations last September, with the departure of more than 400 staff. Digital Explosion, a US investment firm, has since provided additional investment in return for a controlling stake.
HomeChoice provides on-demand programmes spanning comedy, drama, music soaps, pay-per-view movies, home shopping and a broadband internet service.