Lionsgate Sells 49% Stake in TV Guide for $123 Million

Authored by Mark Hefflinger on May 28, 2009 - 8:19am.

Santa Monica, Calif. - Film studio Lionsgate announced on Thursday that it has sold a 49% stake in it TV Guide Network and TVGuide.com business to One Equity Partners, the private equity investment arm of JPMorgan Chase, for $123 million.

One Equity also retains the option to buy another 1% of the business under certain conditions.

Media investor Allen Shapiro was also named chairman of the new joint venture.

Lionsgate paid $250 million in February to acquire TV Guide Network, which reaches some 83 million homes.

Lionsgate's other joint ventures include FEARnet, a branded horror channel operated with Sony and Comcast, and EPIX, a premium entertainment channel with Viacom and MGM that is slated to launch in October.

The company also holds a 42% stake in male-focused site Break Media.

Related Links:
http://snipurl.com/iyld9

http://www.lionsgate.com

http://www.oneequity.com

http://www.tvguide.com