Macrovision has announced the planned sale of TV Guide magazine to private equity firm, OpenGate Capital, effective December 1. In a letter to TV Guide employees, TV Guide President Scott Crystal thanked staff members for their “hard work” and “commitment” to the magazine and said that he was “…extremely confident and optimistic about our future.” [...]
TV Guide has laid off an undisclosed number of staffers following Gemstar’s approved merger with Macrovision Corporation. The company did not comment on specific terminations. Rumors have circulated since the deal was agreed upon last December that Macrovision intends to find a buyer for the publishing business. Folio (Apr. 30, 2008)
Macrovision’s takeover of Gemstar-TV Guide for approximately $2.3 billion in cash and stock is expected to close Friday. Associated Press (Apr. 29, 2008)
Folio: magazine cites industry observers who believe that Macrovision Corp. “…faces an uphill battle for shareholder approval…” of its plans to purchase Gemstar TV Guide for $2.8 billion in cash and stock. Wal-Street has been underwhelmed by the pairing from the get-go, punishing shares of both companies on the day the deal was announced. What the [...]
The board of directors of Los Angeles-based television media company Macrovision has unanimously approved the purchase of Gemstar-TV Guide for $2.8 Billion in cash and stock. News Corp., which owns some 40%, of Gemstar-TV Guide will vote in favor of the deal, which may close as early as the second quarter of 2008. Macrovision plans to [...]