NEW YORK (AdAge.com) -- Tech company Macrovision has sold off the rest of TV Guide, including the cable channel and website, for about $300 million to TV producer Allen Shapiro and private equity firm One Equity Partners.
The sale ends Macrovision's short stewardship of the storied company.
Macrovision came into possession of the magazine, cable channel and website in January when it bought the assets of Gemstar-TV Guide for $2.8 billion.
15 million unique visitors a month
In October, Macrovision sold off TV Guide Magazine for $1 plus the assumption of debt, and even agreed to loan private equity firm Open Gate Capital $9.5 million to finance the deal.
Mr. Shapiro, former CEO of Dick Clark Productions, and One Equity agreed to pay $255 million for the cable and the website, plus $45 million in earn-out provisions payable through 2012.
TV Guide Channel is distributed in 83 million U.S. homes; the website draws 15 million unique visitors a month, according to the company. According to Ad Age data, Macrovision's cable revenue was $186 million in 2007, down slightly (0.4%) from 2006. Digital revenue was $13 million, up 28.9% from the year before.