Posted by Jack Davis on October 13th, 2008 at 2:11 pm | Categorized as Macrovision | Tagged as Macrovision
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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Posted by Jack Davis on August 4th, 2008 at 2:22 pm | Categorized as Executive Pay, Governance, Macrovision | Tagged as Executive compensation, Governance, Macrovision, Restricted stock, Stock options
When Alfred Amoroso was named chief executive of Macrovision in June 2005, he was given an option to buy 500,000 shares and was guaranteed future option awards good for 125,000 shares each that were to be granted twice a year in each of 2006, 2007 and 2008.
A year later, however, Amoroso and/or Macrovision’s compensation committee evidently had second thoughts. Read the rest of this entry »
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Posted by Jack Davis on September 18th, 2007 at 8:20 pm | Categorized as Buyback, Headcount, Layoffs, Macrovision, Options, Stock sales
The same day it announced buying back 2.1 million shares and completing the last $50 million worth of a $100 million stock buyback approved a year ago, Macrovision said it intends to buy back $60 million more.
Shares of Macrovision closed Tuesday at $23.04, little changed since the $100 million buyback was approved in August 2006.
“The repurchase program reflects our efforts to return value to our stockholders,” said
Chief Financial Officer James Budge in a statement.
Among the stockholders getting some value returned would be the company’s chief executive, Alfred Amoroso, who sold Macrovision shares earlier this month for the first time since joining the company in July 2005. He sold 31,250 shares of restricted stock for $741,461, for an average of $23.73 per share, at his first opportunity following their vesting on Saturday, Sept. 1.
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