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One Equity Partners acquires TV Guide Network from Macrovision

Macrovision Solutions has agreed to sell TV Guide Network to Allen Shapiro, a former president of Mosaic Media Group, and One Equity Partners for around USD255m, plus up to an additiona

Macrovision Solutions has agreed to sell TV Guide Network to Allen Shapiro, a former president of Mosaic Media Group, and One Equity Partners for around USD255m, plus up to an additional USD45m payable through earn-out provisions up to 2012.

The transaction, expected to close no later than 1 April 2009, includes TV Guide Online.

TV Guide Network is the 19th most distributed network and available in 83 million US homes. 

TV Guide.com has more than 15 million monthly unique visitors.
 
Fred Amoroso, president and chief executive of Macrovision, says: ‘Today’s announcement further demonstrates our ability to execute against our business plan. We remain committed to delivering leading interactive program guide technology, data solutions and video search capability as key ingredients to the future of the digital home. This divestiture will further streamline our business operations and once again demonstrates our ability to execute on Macrovision’s vision of providing consumers with a uniquely simple home entertainment experience. Furthermore, we continue to make progress towards our goal of divesting TVG Network, our horse racing wagering channel, which we expect to sign in early 2009.’
 
Shapiro says: ‘I believe the TV Guide Network and tvguide.com are unique properties in the media landscape. These assets and brands are extremely difficult to replicate and create significant opportunities for sustained growth. We are very enthusiastic about working with One Equity Partners to execute on our vision.’
 
Greg O’Hara, a managing director of One Equity Partners, adds: ‘We are excited to partner with Allen Shapiro on this transaction. With Allen’s expertise and impressive track record with media investments, we believe this acquisition will serve as a platform for other acquisitions across the entertainment and digital landscape.’
 
The structure of the deal also allows Macrovision to use the capabilities of TV Guide Online while remaining focused on Macrovision’s core competencies in technology. 

Specifically, Macrovision retains the key online elements currently utilized through the site, namely its B2B grid syndications business, whereby the company licenses its online guide to other portals.
 
UBS Investment Bank served as financial adviser to Macrovision on this transaction.

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