Gemstar Officially Buys TV Guide
Interactive television guide company Gemstar International Group, said yesterday it finalized its purchase of TV Guide, Inc., Tulsa, Ok.The deal comes after months of speculation and only after final approval by U.S. antitrust regulators.
In the $14 billion acquisition, Gemstar, New York, will assume $600 million in TV Guide debt. The companies, which had fought in court over interactive television guides, will now join together in an attempt to become the premier developer of interactive guides, which are being installed in televisions, VCR's and through cable set-top boxes. The deal also includes TV Guide's print properties.
Currently the companies have a combined 6.5 million program guides installed and licensed in the U.S.
