In an unexpected move, Lionsgate Entertainment became the new buyer of the TV Guide Network and TV Guide Online from Macrovision Solutions Corp. for $255 million, just three weeks after the company had announced a deal to sell the channel and online biz to investor Allen Shapiro for $300 million, the Wall Street Journal rerpoted.

Initially, Macrovision announced in December that it would sell the TV Guide channels, which include online and interactive programming guide services for set top boxes and TVs, to Allen Shapiro and One Equity Partners. 

Macrovision's chief financial officer, James Budge, refused to give a reason why the original deal fell apart only saying that this was what is best for Macrovision right now.

"At the end of the day," he added, "overall deal considerations were superior with the Lionsgate deal in all circumstances."

The acquisition from Macrovision Solutions Corp. is expected to significantly expand Lionsgate's cable holdings and reach, giving the Santa Monica studio one of the most widely distributed cable networks in the United States.

Although the TV Guide Network, which is available in over 83 million homes, has become less relevant as more cable-TV consumers turn to interactive program guides built into their set-top boxes, Lionsgate's co-chairman and CEO, Jon Feltheimer said the cable real estate fitted very well with the company's strategy "of combining content creation, distribution and direct access to the consumer."

The deal is expected to be sealed by the end of February with Lionsgate reportedly paying cash.