A new company named Interactive Program Guide Inc. will be established in late April with initial capital of $4.1 million. Gemstar will have a 50% stake, Dentsu will hold 42.5% and magazine publisher Tokyo News, which puts out the Japanese edition of TV Guide, will have a 7.5% stake.
The new company will use the Gemstar "G-Guide Gold" system for video cassette deck recording. The system is used by more than 700 broadcasters in the U.S., including the four major networks. The service will be offered free of charge and the service will carry advertising.
Copyright April 1999, Crain Communications Inc.