TV Guide sold for $1 ……
According to Advertising Age, Macrovision Solutions Corporation (NASDAQ: MSVN) has sold the iconic TV Guide to the private equity firm OpenGate Capital. For $1 a dollar.
Here is the rub, Macrovision is loaning OpenGate Capital, $9.5 million at 3% interest to cover the cost of jumping life into the flaying brand while fulfilling the obligation to current subscribers.
TV Guide has to catch up, make the magazine electronic friendly and hit, and hit hard, the youth (tech savvy, multi-cultural audience).
It is true; we all watch TV but we don’t all do it on the couch any more.
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