By Chris Tribbey | Posted: 18 Dec 2008
Macrovision Solutions Corp. announced Dec. 18 that it will sell its TV Guide Network property for approximately $255 million to Allen Shapiro and One Equity Partners. The deal also includes as much as $45 million more through 2012.
“Today’s announcement further demonstrates our ability to execute against our business plan,” said Macrovision president and CEO Fred Amoroso. “We remain committed to delivering leading interactive program guide technology, data solutions and video search capability as key ingredients to the future of the digital home.”
The deal is expected to close by April and includes tvguide.com. The Web site draws 15 million unique visitors each month.
“I believe the TV Guide Network and tvguide.com are unique properties in the media landscape,” Allen Shapiro said. “These assets and brands are extremely difficult to replicate and create significant opportunities for sustained growth. We are very enthusiastic about working with One Equity Partners to execute on our vision.”