Macrovision Sells TV Games Network to Betfair for $50 Million

Authored by Mark Hefflinger on January 28, 2009 - 4:32am.

London - Betfair, a U.K.-based online gambling firm focused on horseracing, has acquired Macrovision's (NASD: MVSN) TV Games Network interactive TV horserace wagering service for $50 million in cash.

TVG is the official TV and interactive wagering partner of the National Thoroughbred Racing Association, offering advance deposit wagering services in the U.S.

"The divestiture of the TVG Network marks another milestone in a set of objectives we set for ourselves when we acquired Gemstar-TV Guide in 2008, and helps to focus our company around the goal of powering a uniquely simple home entertainment experience," said Fred Amoroso, president and CEO of Macrovision.

http://www.macrovision.com

http://www.tvg.com

http://www.betfair.com