So my company, TV Guide, got acquired last year by Macrovision Corp. and they have been trying to sell the TV Guide Channel and .com for a while now and it finally went through. Lionsgate purchased us for $255M. Too bad i'm on the Macrovision side... Here's a posting about the transaction...
"Lionsgate made an agreement with Macrovision Solutions Corporation allowing Lionsgate to purchase the TV Guide Network and TV Guide Online for $255 million in consideration. A previous sell agreement with Allen Shapiro and One Equity Partners for the same properties from December 18, 2008 was "terminated" by Macrovision. This new deal between Lionsgate and Macrovision is expected to close February 28, 2009 and is pending normal closing conditions and certain indemnifications. As to why the previous deal had been terminated in lieu of the new deal with Lionsgate, a spokesperson for Macrovision provided this information: When Macrovision set out to sell its media properties (TV Guide Magazine, TV Guide Network and TV Games Network) it had identified several criteria as critical to any agreement - they are: high certainty to close, speed to close, overall terms and conditions, and value to Macrovision of the transaction. Macrovision believes that this transaction with Lionsgate has a higher likelihood of close and has fewer conditions to the close. In addition, we believe the Lionsgate transaction would close sooner than the previous transaction." -Cynopsis.com
Posts
No comments:
Post a Comment