CBS Corporation has wholly acquired TV Guide Digital, which includes the TVGuide.com and TV Guide Mobile properties. In March Fusion DigiNet reported that CBS took over the TV Guide stake held by One Equity Partners, the private-equity arm of J.P. Morgan Chase, which owned 49% of the company, with the option to buy another 1%. CBS was said to be paying about $100 million for the 49% stake.
Under the terms of the new deal, CBS Corporation has acquired the remaining 50 percent stake in TV Guide Digital shares from Lionsgate. CBS and Lionsgate’s 50/50 partnership for the highly distributed TVGN cable network, announced on March 26, will continue.
TVGuide.com and the TV Guide Mobile apps will become part of CBS Interactive’s Technology, Games and Lifestyle group.
“TV Guide is one of the most-enduring and iconic brands in the world of television and video, and we’re proud to welcome TV Guide Digital to the CBS Interactive family,” said Jim Lanzone , President of CBS Interactive. “TVGuide.com and TV Guide Mobile have the biggest and most-engaged audiences in the valuable TV information category, making them a perfect fit for our portfolio of premium content brands.”
USA, Los Angeles, CA & San Francisco, CA
- CBS acquires 50% of TV Guide Posted on March 26, 2013
- NetMediaEurope acquires German arm of CBS Interactive Posted on January 9, 2012
- CBS Television Stations Group to acquire New York Station WLNY-TV Posted on December 15, 2011