The new parent company of TVG reiterated in a recent conference call its plans to sell the horseracing channel, saying it hopes to do so by the end of the year.
A deal struck between TVG and the New Jersey Sports and Exposition Authority extends the network's previous agreement for rights to signals from Monmouth Park and Meadowlands, but allows the NJSEA to separately negotiate with entities affiliated with TrackNet Media Group.
The parent company of TVG reported a record handle of $148.5 million for the third quarter of 2007, and announced a new wagering partnership in New York during a Nov. 1 conference call with analysts.
Gemstar-TV Guide, which owns TVG, the account wagering service and horse racing network and publishes TV Guide magazine, said July 9 it had hired investment bankers to explore strategic alternatives, including the sale of the company.
- By Ray Paulick
By Ray Paulick -- One of the interesting things about Thoroughbred racing is the penchant so many people have of knocking something into oblivion, and later complaining about the fact it's gone. Take TVG, for example.
Ryan O'Hara, the recently appointed chief operating officer of TV Games Network, has been promoted to president, parent company Gemstar-TV Guide announced Thursday.
TV Games Network will continue to be distributed on the DISH Network after an agreement was reached on a four-year patent dispute between their parent companies.
Youbet.com has agreed to pay TV Games Network $725,000 and withdraw its proposed staggered board and supermajority voting proxy material in exchange for TVG dropping all pending litigation and related arbitration.
Gemstar-TV Guide International announced it has named Ryan O'Hara chief operating officer of its TVG Network.
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.
To comply with a court order handed down Thursday, Youbet.com will delay its annual shareholders meeting so it can provide information on the ramifications of a majority buyout by Gemstar Inc., parent company of Television Games Network.
TV Games Network, a shareholder in Youbet.com with an option to buy a majority interest in the company, has filed a lawsuit against Youbet for proposed changes to voting and term limits for its board of directors.
TVG will now be available on Cox Communications digital cable service in Santa Barbara and Bakersfield, California.
Henry Yuen, the former chairman and CEO of Gemstar-TV Guide International, parent company of the Television Games Network (TVG), has been charged in a civil lawsuit by the Securities and Exchange Commission with securities fraud, lying to auditors, and falsifying the company's books.
Gemstar-TV Guide International reported a net loss of $6.23 billion, mainly from write-downs for goodwill, for fiscal year 2002. Meanwhile, the company's interactive platform sector, which includes the TV Games Network, posted revenue gains.
Henry Yuen has resigned as chief executive officer of Gemstar-TV Guide International and will be replaced by Jeff Shell, the company announced Oct. 8. Gemstar-TV Guide is the parent company of the TV Games Network.
Gemstar-TV Guide International, the parent company of the TV Games Network, posted a preliminary second-quarter loss of $953.8 million after more than $1 billion in asset write-downs.
California-based Gemstar said it received notice from Nasdaq that it faces delisting because it hadn't filed its most recent quarterly report with the U.S. Securities and Exchange Commission, Reuters news service reported.
Trading was heavy again on Gemstar-TV Guide International Tuesday, but the media and technology company that lost 39% of its stock value Monday ended the day with a small gain.
Gemstar-TV Guide International, the parent company of the TV Games Network, lost 39% of its value Monday in a frenzy of selling. Investors reacted to a ruling June 21 that Gemstar's patents for an interactive television program guide have not been infringed by competing products.
Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Television Games Network has acquired 16.6% of Youbet.com's outstanding shares of common stock.
Gemstar-TV Guide International, parent company to the TV Games Network, posted a steep first quarter net loss due to $297.8 million write-off and declining revenu
Gemstar-TV Guide stock plunged Friday after a report released two days ago said the company may have engaged in "patent misuse" and that its on-going patent infringement lawsuit may be groundless.
Gemstar-TV Guide became part of its eighth class action suit in two weeks on Tuesday.
Gemstar-TV Guide, the parent company of the TV Games Network, took a heavy blow in the stock market Tuesday after an analyst questioned the accounting of $127.6 million in revenue.
Gemstar-TV Guide stock plummeted Tuesday morning on the heels of poor fourth quarter and year-end results. As of 3 p.m., the parent company of the TV Games horse racing network was down $4.21 to $17.52, a drop of 19.4%.
The TV Games Network's parent company reported a 13.5% increase in net loss for the third quarter ending Sept. 30. The increase in losses was attributed to charges related to the merger between Gemstar and TV Guide in July 2000 and to higher operating expenses.
Gemstar-TV Guide, the parent company of the TV Games Network, reached a new 52-week low of $20.25 Tuesday. The stock tumbled with the rest of the major markets, which were affected by profit warnings and job cuts.
A deal between TV Games Network's parent company and Comcast, the nation's third leading cable operator, will put the horse racing network in two more states before September.
Gemstar-TV Guide, the TV Games Network's parent company, enjoyed extraordinary growth in revenue and earnings for its fourth quarter and fiscal year. The company is expecting more rapid growth this year and TVG will play an active role.
Second quarter losses and a failure to fully disclose all financial information at once caused Gemstar-TV Guide stock to tumble. Quarterly results were mixed for the division that operates the TV Games Network.
The stock price of TV Guide Inc., the parent firm of TVG, rose 27.3% Wednesday after the announcement that the company's acquisition by Gemstar International Group Ltd. had been completed.
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