CBS made it official late Tuesday, announcing a deal to
acquire a 50% interest in TV Guide, parent of cable network TVGN and the
Deadline.com first reported March 22 that CBS was close to a
deal. CBS will purchase the 50% interest from JP Morgan's One Equity Partners
for an undisclosed sum. Deadline and other news outlets had earlier reported
the stake could sell for about $100 million.
Movie studio Lionsgate, which owns the other half of TV
Guide, first purchased the network and web site in 2009 for $240 million.
a 50% interest to One Equity later that year for about $120 million.