Lionsgate Acquires Macrovision's TV Guide Network and for $255 Million

Jan 09, 2009

Lionsgate and Macrovision Solutions Corporation, a digital entertainment technology provider, announced an agreement for Lionsgate to acquire the TV Guide Network and TV Guide Online properties from Macrovision for $255 million in consideration. Macrovision has terminated its previous agreement to sell such properties announced on December 18, 2008. The transaction between Lionsgate and Macrovision is expected to close by February 28, 2009. The transaction will be funded with Lionsgate’s existing cash and available funds and the closing is not subject to financial performance requirements. The structure of the deal allows Macrovision to utilize the strategic capabilities of TV Guide Online while remaining focused on Macrovision’s core competencies in technology. Macrovision retains the key strategic on-line elements currently utilized through this site, namely its B2B grid syndications business, whereby the company licenses its online guide to other portals, and functionality that enhances its embedded guidance product offering, such as integration from embedded guides with online or mobile guides that allow for remote record.