CBS Acquires A 50% Stake In TV Guide
CBS has acquired a 50% stake in TV Guide, a company that has a cable channel with the same name and parent company of TVguide.com. The cable channel is available in over 80 million homes. The TV Guide channel showcases content side-by-side with TV show and movie listings.
CBS acquired the stake in TV Guide from One Equity Partners, the private equity arm of JPMorgan Chase. One Equity Partners spent $122 million to buy 49% of TV Guide in 2009. CBS paid only $100 million for the stake as reported by Deadline.com.
TV Guide will be rebranded and will partner with several CBS properties including CBS Entertainment Tonight and OMG! Insider.