SEC probes Gemstar practices

Company's accounting practices in question

Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission.

The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17.

“The company previously disclosed it has been in discussions with the SEC regarding the company’s recently completed internal accounting review,” Gemstar noted in its press statement.

“By formalizing this previously informal discussion, the SEC will have the ability to subpoena individuals and entities in order to gather more information. The company intends to fully cooperate with the SEC as it moves forward in its process.”

Rupert Murdoch’s News Corp. owns 42% of Gemstar’s stock, which is down 87% this year. Nasdaq recently notified the company of a delisting review after the delay of its second-quarter earnings, prompted in part by a review of legal costs in a patent dispute.

The revelation of an SEC probe came after the close of market trading, as Gemstar shares closed up 1¢ at $3.66.

More Scene

  • Guillermo del Toro, Greta Gerwig and

    Timothée Chalamet Says He'd Love to Work With Christopher Nolan or Guillermo del Toro

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • Tracee Ellis Ross

    Tracee Ellis Ross at Image Makers Awards: 'Clothing Started as Armor for Me'

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • 'Salute to Service' Honored Industry Support

    Variety's 'Salute to Service' Presented by National Geographic Celebrates Industry Supporters of Troops, Veterans

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • Rob Riggle Salute to Service

    Rob Riggle on Work With Veterans at Variety, National Geographic's Salute to Service: 'It's Who I Am'

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • Golden Globes Timeline

    Inside the Glamorous Golden Globes After-Parties

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • HFPA 75th Annual Golden Globe Awards,

    Allison Janney, Sam Rockwell, More Winners Get Trophies Engraved at First-Ever HFPA Golden Globes Party

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

  • Damian Lewis and Malin AkermanShowtime Golden

    Golden Globe 2018 Pre-Parties: BAFTA Los Angeles Tea, Showtime, ICM and More

    Gemstar-TV Guide Intl. said Monday that it’s under investigation by the Securities and Exchange Commission. The Pasadena-based company, which publishes TV Guide and markets electronic TV-programming guides, has been besieged in recent months by questions involving its accounting practices. Gemstar said the SEC issued a formal order of investigation Oct. 17. “The company previously disclosed […]

More From Our Brands

Access exclusive content