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Breaking Tv Guide Parent Sold

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by Jeff Bercovici
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Dec 07 2007 12:00am EDT

Breaking: 'TV Guide' Parent Sold

Gemstar-TV Guide International has a new home. Macrovision Corp., a tech firm that provides anti-piracy tools, has agreed to buy the TV-listings-and-magazine-publishing company for $2.8 billion in cash and stock, according to the Associated Press. That's only $11.4 billion less than it was valued at when Gemstar and TV Guide first merged seven years ago.

As for details, Gemstar CEO Rich Battista and his CFO, Bedi Singh, will leave once the deal goes through sometime next spring. Macrovision chief Fred Amoroso will continue to preside over the merged company. □

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