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Desperate Times: TVGuide Sold For A Buck…Really

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Wow, we knew Macrovision (NSDQ: MVSN) was desperate to get rid of the print version of TV Guide, but didn’t know the extent to which it would go to the liabilities off its books: we reported earlier this week that it was sold to PE firm OpenGate the price has come out in an SEC filing from MVSN. It is $1, and on top of that, Macrovision is loaning the firm up to $9.5 million, and OpeGate will assume certain liabilities of the TV Guide Magazine business. From the SEC filing: “(a) At the Closing, Buyer shall (i) purchase from the Company the Purchased Assets and the rights to the Licensed Assets, (ii) assume the Assumed Liabilities, (iii) pay to Company an aggregate purchase price for the Purchased Assets and the rights granted to the Licensed Assets of one dollar ($1) (the