Macrovision is buying television listings provider Gemstar-TV Guide International for $2.8 billion in cash and stock. They say the combined company will allow consumers to pull up a guide on their TV and receive personalised content and information regarding favourite TV shows, read movie reviews before purchasing or renting a film, view personal photos, or tap into personal music libraries.
Plans for Gemstar-TV Guide’s print operations weren’t disclosed. News Corp which owns about 41 per cent of Gemstar-TV Guide, has agreed to vote in favour of the deal.
Macrovision’s Fred Amoroso will continue as president and chief executive of the new company while Gemstar-TV Guide CEO Rich Battista will leave the organisation upon closing of the acquisition.