Macrovision Sells TV Guide Network

Dec 23, 2008

Macrovision Solutions Corporation, a digital entertainment technology provider, announced it has reached an agreement to sell its TV Guide Network property to Allen Shapiro and One Equity Partners for approximately $255 million in consideration, subject to a working capital adjustment at closing, plus up to an additional $45 million payable through earn-out provisions through 2012. The transaction, expected to close no later than April 1, 2009, includes the TV Guide Online ( business, certain indemnifications, and is subject to customary closing conditions. Macrovision retains the key strategic on-line elements currently utilized through TV Guide Online, 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.