Macrovision Solutions Corp. is selling its TV Guide magazine property to a private firm, OpenGate Capital.
Macrovision said the divestiture is consistent with its plans outlined in January 2008 following the company's announcement of its $2.8 billion acquisition of Gemstar-TV Guide.
Macrovision is a technology company, and it identified the magazine as outside its core corporate strategy.
"A primary goal of the Gemstar-TV Guide acquisition was the consolidation of key technology assets, including the interactive program guides, connected services and device connectivity needed to provide consumers with a uniquely simple digital home entertainment experience," said Fred Amoroso, president and CEO of Macrovision.
Today's consumers dictate how and when they engage with all forms of digital media. Macrovision will keep its Interactive Program Guide services, Web portal www.tvguide.com and other search-and-access tools it said will position the company firmly at the center of an emerging entertainment landscape in which music, movies, photos, videos and television programs transform into personalized catalogs for users.
Established in 2005, OpenGate Capital is based in Beverly Hills, Calif., with an office in Paris.
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