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Summary:

Macrovision (NSDQ: MVSN) is almost done with most of its dispositions, and after selling off its TV Guide magazine for $1 to OpenGate Capita…

Macrovision (NSDQ: MVSN) is almost done with most of its dispositions, and after selling off its TV Guide magazine for $1 to OpenGate Capital, is getting considerably more for the namesake TV network and the online part: it has sold off TV Guide Network to Allen Shapiro and One Equity Partners for about $255 million, plus up to an additional $45 million earnout payable through 2012. The surprise part: after professing love for TVGuide.com network (which includes jumptheshark.com, tv-now.com, tvshowsondvd.com and fansofrealitytv.com) for the last couple of quarters, it is now washing its hands off it, and bundled it as part of this TV network sale. The deal is expected to close on April 1 next year.

One Equity Partners is the $8 billion PE arm of J.P. Morgan Chase & Co. Shapiro was most recently president of entertainment management firm Mosaic Media Group and CEO of Dick Clark Productions (DCP). Shapiro facilitated the leveraged buyout of DCP and became CEO of the company in 2004.

In October, Macrovision sold TV Guide magazine to firm OpenGate Capital for $1 and liabilities; it previously said it planned to keep TVGuide online network. In May, MVSN CFO said this:

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  1. I guess the Macrovision management must have felt it's time to go on and leave the unprofitable divisions to others.I don't think they are wrong here for their actions,it's just that what action will they do after this to do business after their core divisions are sold?I would like to see how this turns out to be.

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  2. The channel offers an endless scroll of television listings for viewers and averages 108,000 viewers at any given time. In 1999, when the channel made its premiere in its present form, its slogan was “change the way you channel.” Unfortunately for TV Guide, many viewers have changed the way they channel surf, using the interactive program guides provided by cable companies or Internet listings.

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