Well, this is certainly one way to get better positioning in TV Guide (does TV Guide even still exist?) - albeit one that is a little costly.
CBS is in talks to buy half of TV Guide Network (which has been rebranded TVGN) from Lionsgate. The network has been on sale for about a year, as Lionsgate intended to move all its ownership but only ended up selling half of it at the time to One Equity Partners for $123 million. I guess something has changed and they are looking to get out from under it entirely.
The two companies are not discussing the move yet, but sources have said that CBS will pay approximately $100 million dollars in the deal, making this a losing deal for Lionsgate, who bought the entire network in 2009 for $250 million. I am not a math major, but that's not good business. Especially when Lionsgate claimed late last year that the network and website were worth about $370 million.
Included in the deal is TVGuide.com. TV Guide magazine is not part of the deal, as it is owned separately bt Open Gate Capital. Guess I answered my original question there, didn't I?
Have you ever watched the TVGN? Any thoughts on it?