TV Guide investment
June 1, 2009
Lionsgate said it will sell a 49% stake in TV Guide Network – which it recently acquired from Macrovision Solutions — to JPMorgan Chase’s private equity arm and TV producer Allen Shapiro for about $123 million in cash.
One Equity Partners, the global private equity investment arm of JPMorgan Chase, will become a 49% equity partner in Lionsgate’s TV Guide Network and TVGuide.com. One Equity Partners retains the option of buying another 1% of TV Guide Network and TVGuide.com under certain circumstances.
Lionsgate completed the acquisition of TV Guide Network, which reaches approximately 83 million homes, in February for approximately $255 million.