TV Guide Sold For A Dollar

AdAge:

NEW YORK (AdAge.com) -- How much is TV Guide magazine worth in a morphing media business and molten credit markets? Try $1.

That's how much the private equity fund OpenGate Capital has agreed to pay Macrovision for the unprofitable magazine and all its liabilities. The cover price, by way of comparison, is $2.99.

To sweeten the deal even further, Macrovision is loaning OpenGate up to $9.5 million to help get going -- at a very friendly 3% interest.

"I'd borrow from Macrovision any time," one investment banker said of the terms.

Read the whole story: AdAge

Comments

[ramblingjohnny]

Al Bundy must turn in his grave!

[granamica]

Since it had Hugh and the gang from House on the cover, I would have paid more!

Unfortunately, they have to list all the sh*tty shows, too.

[JScott]

I stopped subscribing shortly after they changed it's format (don't like it) no local editions anymore.
Don't watch much tv anyway and I can get the same TV schedule info. (and videos of missed shows) on the internet. It's like what's the point of it's existence anyway. But Annenberg made his billions, and now it's only worth $1, my how the world has changed.

[KillerCarlson]

OpenGate Capital overpaid!

[mommadona]

Couldn't happen to a more shallow rag....other than Reader's Digest, that is....

[revko]

Without TV Guide does that mean my television will now wander about aimlessly?