Gemstar closes TV Guide deal

New owner of electronic program guide

TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group.

Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March.

TV Guide stockholders now hold 45% of the equity in the new company, Gemstar-TV Guide Intl. Inc., and six of 12 seats on its board. The acquisition involved the swap of 0.6573 Gemstar shares for TV Guide Class A and B shares.

Gemstar also will assume $600 million in TV Guide debt.

Electronic guide provider

Gemstar is a provider of electronic program guide services of the sort the venerable publisher TV Guide also has added to its operational mix of late, and it develops an array of other technologies for various audiovisual applications. Its VCR Plus is a patented “instant programming system” that allows users to record a show simply by entering a number printed in TV program guides published in newspapers and elsewhere.

TV Guide has diversified from its publishing base into an assortment of electronically based businesses, including the TV Guide Channel. Its products are touted as the largest collection of print and electronic guidance products in the world.

TV Guide, which will operate as a unit of the new company, is based in Tulsa, Okla. The original Radnor, Pa.-based TV Guide previously merged with Oklahoma-based United Video Satellite Group.

The new company briefly will have an effective monopoly in electronic program guides, said David Williams, CEO of Chicago-based Tribune Media Service, which is beta-testing an electronic program guide that will go head-to-head with Gemstar products.

“The marketplace is going to be looking for competition,” Williams said.

(Dow Jones contributed to this report. )

More Biz

  • Kenichiro YoshidaSony's CEO unveils company's mid-term

    Sony Forecasts Drop in Midterm Profits but Boost for Pictures Division

    TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group. Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March. TV Guide […]

  • EMI Music Publishing logo

    Sony to Buy Additional 60% Stake in EMI Music Publishing for $2.3 Billion

    TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group. Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March. TV Guide […]

  • Comcast's Sky Bid Unlikely to Face

    Comcast Bid for Sky Unlikely to Face Same Regulatory Scrutiny as Fox Offer

    TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group. Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March. TV Guide […]

  • Prince Harry and Meghan MarkleThe wedding

    How Oprah, Ava DuVernay and Reese Witherspoon Celebrate the Royal Wedding

    TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group. Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March. TV Guide […]

  • Prince Harry and Meghan MarkleThe wedding

    Watch the Gospel Choir's Rendition of 'Stand by Me' at the Royal Wedding

    TV Guide has a new owner after the Justice Dept. greenlit a $9.2 billion acquisition by Gemstar Intl. Group. Pasadena-based Gemstar said Wednesday that it had closed the stock-based deal after getting the go-ahead from Washington to combine operations expected to produce annual revenue totaling $1.5 billion. Shareholders blessed the deal in March. TV Guide […]

More From Our Brands

Access exclusive content