That would be TV Guide Network, which was ready to be sold to an investment group for as much as $300 million. Now, it's Lions Gate that's getting the cable channel, along with TV Guide Online, for $255 million. Macrovision Solutions, which is selling the properties, says that the earlier agreement allowed it to get a better deal (or perhaps one that could be better financed). "We believe this transaction improves the probability and the timing of closing the transaction, while providing for non-contingent consideration comparable to our previously announced transaction," said Macrovision CEO Fred Amoroso. Lions Gate produces the popular AMC series "Mad Men" and has looked to move more into TV (less volatile than the movies). No details on what the company plans to do with TV Guide Network, which feature those scrolling TV listings that have become less relevant as cable operators provide their own program guides. Meanwhile, the jilted investment group might be planning to duke it out. "The last chapter on this deal has not been written yet," Allen Shapiro, who heads the investment group, told Variety. WSJ also has the story.
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