Magazine article Folio: the Magazine for Magazine Management

The $2 Billion Acquisition of TV Guide

Magazine article Folio: the Magazine for Magazine Management

The $2 Billion Acquisition of TV Guide

Article excerpt

* THE $2 BILLION ACQUISITION OF TV GUIDE by a subsidiary of Tele-Communications Inc represented an attempt by TCI to establish a single dominant television listings service crossing several media It also represented a calculated bid by TV Guide owner News Corp to bolster the giant listings magazine s position in a changing market TV Guide has seen its circulation decline to 13 million today from 17 million 10 years ago as the television industry diversified into cable, and as onscreen and online listings services increased in Importance.

The deal allows TCI, which already owns the Prevue Network, a television-based guide, to unify its line under the TV Guide brand to create listings across all media Prevue reaches 50 million U S cable customers.

Under the terms of the deal, News Corp continues to play a role. In exchange for selling the TV Guide properties, News Corp got $1.2 billion in stock, or 40 percent, of TCI's United Video Satellite Group, which the TV Guide franchise merged with News Corp also got $800 million in cash News Corp acquired TV Guide, along with the Racing Form and Seventeen, in 1988 for $3 billion from Walter Annenberg TV Guide generated 2,904 ad pages through November 1998, according to Publishers Information Bureau, down from 3,137 pages in the same period in 1997. …

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