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Macrovision acquired TV Guide in December 2007 and by
December 2008, the decades-old television programming magazine will come under
the ownership of OpenGate Capital.
Macrovision announced Monday, after the stock market had
closed, that it had sold TV Guide to private-equity firm OpenGate Capital. The
deal is expected to be completed by December 1 and no shareholder vote is
required, reports Variety.
The terms of the deal were not disclosed. Shares of the
company closed at $13.67 Monday on Nasdaq.
Interestingly enough, while the magazine has changed owners,
its website will remain the property of Macrovision.
Macrovision acquired Gemstar-TV Guide International, the
magazine’s publisher, nearly a year ago for $2.8 billion. At the time, the tech
company said it was interested in the magazine’s interactive guides.
Macrovision is still looking to sell the TV Guide cable
channel and TVG, a horse-racing channel.
TV Guide magazine has been on newsstands across the US since 1953,
when it made its debut with a cover photo of comedienne Lucille Ball’s newborn
son with actor/musician Desi Arnaz, Desi
Arnaz, Jr.
TV Guide launched online in 1997 and its website has been
quite successful.
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