Thursday, October 16, 2008

TV Guide Sold for a Buck - AdAge

TV Guide Sold for a Buck - Advertising Age - MediaWorks: "en credit markets? Try $1.

For Macrovision, the deal clears from its books a money-losing print magazine and its 3 million subscribers who need to be serviced.

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 loved this mag as a kid... can't stand it now. Sad.


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