Lionsgate Wins Tussle Over TV Guide Network

In a surprise announcement, Lionsgate revealed it had cut a deal to acquire the TV Guide Network and TV Guide Online from Macrovision for $255 million. The move gives the film-centric indie studio a growing stake in television distribution. Just three weeks ago, Macrovision announced it would sell the properties to investor Allen Shapiro for the same price, but said Monday the tech firm had "terminated" that deal, which was supposed to close in April. Shapiro, the former head of Mosaic Media, said he would continue to fight to buy the company with JPMorgan's One Equity Partners unit. Lionsgate said it will use the channel to show its own films and TV shows as well as its library of 12,000 titles. The studio is already partnered with Sony Pictures in the Fearnet video-on-demand channel and has a partnership with MGM and Paramount Pictures for a pay TV channel to debut in October. The one-time print behemoth TV Guide was sold to a private equity firm in October for $1.