Monday, December 5, 2005
Gemstar-TV Guide Sells SkyMall
Los Angeles-based Gemstar-TV Guide International said today that it has sold its SkyMall business to a group of private equity investors for $52M. Gemstar said that it sold SkyMall to Spire Capital Partners and affiliates in a merger transcation that closed December 1. Rich Battista, CEO of Gemstar-TV Guide, said in a statement that Skymall was not core to the company's plans going forward. SkyMall is a retailer of products and services, known for its in-flight product catalog distributed through back-seat airline pockets, and had been acquired by Gemstar-TV Guide in 2001. Gemstar-TV Guide was advised by Goldsmith Agio Helms & Lynner, LLC.