TV Guide Network purchase ramps up

Weeds is probably the shows offered around the TV Guide Network. Lionsgate and JP Morgan Chase & Co.'s One Equity Partners wing are walking up their efforts to locate a buyer for that TV Guide Network cabler and TVGuide.com website. The partners have silently looked the cabler for several weeks however the purchase activity is anticipated to accelerate within the coming days. Sources near to the situation stated there's still an opportunity that certain Equity, the non-public investment arm of JP Morgan, could cash out Lionsgate's 51% stake stake or the other way around, though each side seem to be leaning toward selling it outright. A repetition for Lionsgate rejected comment Monday. The partners distributed briefing books to prospective purchasers late this past year. Anticipation would be that the purchase process could summary by March. It's unclear just how much TV Guide Network might fetch. The funnel is broadly distribbed in additional than 80 million cable/satellite houses, nevertheless its viewership remains anemic despite efforts to include original reality series and purchases of off-network fare including ABC's "Ugly Betty" and also the Lionsgate-created Showtime laffer "Weeds." Lionsgate bought the cabler and website in Feb 2009 for $255 million. By May of this year, Lionsgate had offered a 49% stake within the assets for $125 million to 1 Equity and investor Allen Shapiro, who was simply in search of TV Guide simultaneously Lionsgate made its bid. 3 years later, Lionsgate is honing its concentrate on core film and television production assets, especially around the heels of their $412.5 million purchase of Summit Entertainment. TV Guide creates positive income and can require a lot more investment to become player among general entertainment cablers. Lionsgate and something Equity make strides in coverting the funnel from the entries-focused plan to a conventional linear funnel, and they've inked new carriage pacts with key operators including Comcast, Time Warner Cable and Charter Communications. The home has attracted some interest from private equity finance gamers this time around around. No majors required a run in internet marketing when TV Guide was set up available in a fire-purchase cost in 2008 at that time-owner Macrovision, so it might be an unexpected to determine them step-up now. One private shingle that could be thinking about the television Guide website is L.A.-based OpenGate Capital, which bought the television Guide print magazine in 2008. Since the assets were separate, the cabler and also the print mag have experienced separate websites, which makes it tougher for both to achieve traction with tube fans. Contact Cynthia Littleton at cynthia.littleton@variety.com