Beverly Hills, CA – October 13th, 2008 – OpenGate Capital, a Beverly Hills-based principal investment firm, announced today a definitive agreement to acquire TVGuide Magazine from Macrovision® Solutions Corporation (NASDAQ: MVSN).
OpenGate’s Founder and Managing Partner Andrew Nikou stated, “TVGuide Magazine is a powerful media brand that serves the television and entertainment community by providing a combination of breaking news, behind-the-scenes features and photos, and exclusive stories on television’s biggest shows and stars.” Mr. Nikou added, “TVGuide Magazine’s management team has done an outstanding job leading the unprecedented transformation of this entertainment industry icon. We are excited to build upon this success by investing in OpenGate Capital’s newly-formed media and entertainment platform.”
“I am thrilled to continue the exciting journey leading TVGuide Magazine to new heights,” said Scott Crystal, President, TVGuide Magazine. “It is truly an ideal fit since our new owners are committed to taking TVGuide to the next level in terms of their investment and desire to expand our unique franchise.”
About TVGuide Magazine
TVGuide Magazine is one of the most popular weekly magazines in the country with more than 20 million weekly readers. From behind-the-scenes looks at broadcast, cable, and syndicated shows and their stars and characters; to sneak peeks at television’s most intriguing plotlines, TVGuide Magazine has every corner of the television medium covered. TVGuide Magazine is the premier source for entertainment news, guidance, and information about America’s most popular leisure time activity.