Macrovision Sells Off TV Guide Network For Up To $300 Million; Shocker: Also Sells Online

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:

loading

Comments have been disabled for this post