Friday, December 7, 2007
Gemstar-TV Guide Acquired By Macrovision For $2.8B
Los Angeles-based Gemstar-TV Guide International and Santa Clara-based Macrovision Corporation said this morning that the two companies have signed a definitive agreement where Macrovision will acquired Gemstar-TV Guide. The deal is worth approximately $2.8 billion in cash and stock. According to the firms, Macrovision will pay either $6.35 in cash or 0.2548 of a share of common stock to acquire Gemstar-TV Guide, in a deal which is expected to close in early Q2. According to Gemstar and Macrovision, Gemstar-TV Guide CEO Rich Battista and CFO Bedi Singh will be leaving the organization on close of the transaction. UBS Investment Bank advised Gemstar-TV Guide International in the deal; Macrovision was advised by JPMorgan. Gemstar TV Guide International is a provider of interactive programming guides and technology, along with related content and services; Macrovision is a firm which sells DRM, software installation, software licensing and other software.