Macrovision Solutions finds buyer for TV Guide
Macrovision, the Santa Clara maker of digital content protection tools that acquired Gemstar-TV Guide last year and is now known as Macrovision Solutions (ticker: MVSN), said it has reached an agreement to sell TV Guide Magazine to OpenGate Capital of Beverly Hills, which bills itself as an “opportunistic” private equity firm (is there any other kind?) that buys controlling interests in businesses with “solid fundamentals” that “exhibit opportunities for operational improvements and growth.”
No word yet on the sale price for the deal, which the company expects to close by Dec. 1 and which does not require shareholder approval. The TV Guide operations, which were classified as discontinued in the company’s 2008 second quarter results, contributed $19 million to sales, or about 18 percent of the $103.6 million in sales the company reported.
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