The company formerly known as Macrovision that first changed its name to Macrovision Solutions last year following its acquisition of Gemstar-TV Guide, said today it is officially adopting an even newer name — and ticker symbol — thereby “highlighting the company’s evolution and growth and a digital entertainment technology leader.”
The Santa Clara company that used to describe itself as Read the rest of this entry »
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.
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 »
Subscribe via RSS all feeds