TVG to Gain Wider Exposure Through Comcast Deal
Updated: Wednesday, February 11, 2004 1:36 PM
Posted: Wednesday, February 11, 2004 1:36 PM
Wider distribution of TV Games Network through the nation's largest cable provider, Comcast, highlights a new joint venture between the cable company and TVG's parent company, Gemstar-TV Guide.
Comcast, which serves approximately 21.3 million cable subscribers, has agreed to increased distribution of TVG, the TV Guide Network, and other Gemstar networks on some of its systems. In return, Comcast will have access to Gemstar's intellectual property, including the TV Guide brand.
Comcast will pay $250 million in cash and will retain a 51% ownership in the development group.
Said Jeff Shell, chief executive office of Gemstar: "Our new agreements with Comcast...reaffirm the value of our intellectual property and technology."
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