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Monday
05Jan2009

Lionsgate Trying to Buy TV Guide Network

DateMonday, January 5, 2009 at 9:44PM
At the end of last week, we told you about an investment bank essentially warning its clients about Lionsgate stock. On the heels of a very bad fourth quarter of 2008, minus the success of Saw V, an analyst prospected that the future of the company very likely hinged on the performance of next week's My Bloody Valentine 3-D.

We wondered if the studio collapsing was really likely due to the many successful ventures Lionsgate has its hands in. Our educated guess was probably not.

And apparently, that's the way Lionsgate feels about it, too, having just reached a deal to acquire TV Guide Network and TV Guide Online for $255 million. Variety reports that a proposed agreement in December between Macrovision, which currently owns the TV Guide properties, and a group headed by investor Allen Shapiro had been "terminated," opening the door for Lionsgate.

"This is tremendous real estate, rarely available, that fits extremely well with our strategy of combining content creation, distribution and direct access to the consumer," Jon Feltheimer, Lionsgate co-chairman and CEO, said in a statement.

Shaprio vows that he's not done fighting for TV Guide's digital universe, but he'd better hurry; the deal is expected to be finalized next month.

The move would expand Lionsgate's TV empire beyond Fearnet, which it co-owns with Sony and Comcast.

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AuthorColin Boyd | | in , | Print ArticlePrint Article | | Comment2 Comments |

Reader Comments (2)

Well. That is sort of random. I feel like it is a bad move, because the TV guide channel is probably not going to last much longer with digital cable and dish guide menus. But what do I know.

Monday, January 5, 2009 | Unregistered Commenteredog4

I agree with you. Seems like an awful lot to pay for something that nobody watches, but just passes by. I don't even know what channel that is on my digital cable, because Cox has its own listing service built in.

Monday, January 5, 2009 | Registered CommenterColin Boyd

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