| MUMBAI:
Allen Shapiro, former owner of Dick Clark Productions, and private equity firm
One Equity Partners LLC are going to buy out TV Guide Network and its website
from Macrovision Solutions Corp for $255 million. The
deal, which may also witness an additional payment of $45 million, is expected
to close in the second quarter of 2009. As
a part of the deal, Macrovision, the interactive programming guide maker, will
retain the technology to license TV listings to others. Earlier
in May, Macrovision had acquired the network from Gemstar-TV Guide International
for $2.3 billion and in October it sold the network’s TV Guide magazine to
private equity group OpenGate Capital LLC for a token price of $1.
According to
Macrovision, asset sales from Macrovision’s $2.3 billion purchase will produce
less than the $350 million that was originally predicted. The sales amount will
be utilised to reduce long-term debt that stood at $883.1 million as of 30 September
2008. | 
