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Gemstar-TV Guide Unloads SkyMall Unit for $52 Million

Authored by Mark Hefflinger on December 5, 2005 - 10:01am.
Los Angeles - Gemstar-TV Guide International, a provider of electronic program guides for digital TV services and the publisher of TV Guide magazine, announced on Monday that it has sold its SkyMall business for $52 million, to a private equity group led by Spire Capital Partners. Los Angeles-based Gemstar acquired SkyMall, which publishes an in-flight shopping catalog, in 2001. "Gemstar-TV Guide is focused on building upon the company's core assets including the TV Guide brand, our guidance technology and our leading entertainment and editorial data and content," said Gemstar CEO Rich Battista. "SkyMall is not core to the company's plans going forward, as we pursue our new cross-platform guidance strategy."
http://biz.yahoo.com/bw/051205/20051205005362.html?.v=1
http://biz.yahoo.com/ap/051205/gemstar_spire_capital.html?.v=1 (AP)
http://www.gemstartvguide.com
http://www.skymall.com
tags: Deals | TV Guide | Gemstar | SkyMall Unit |



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