Gemstar-TV Guide Explores Sale

Los Angeles-based Gemstar-TV Guide International announced Monday evening that the firm is exploring strategic alternatives, including sale of the firm. The firm said that it has retained UBS Investment Bank as a financial advisor to the company, along with Wachtell, Lipton, Rosen & Katz as a legal advisor. The firm said that the move was intended to maximize shareholder value, and had been approved by the firm's board of directors. Gemstar-TV Guide licenses and develops digital television guides and related technology.