Antitrust regulators cleared security-software maker Macrovision Corp.'s $2.8 billion purchase of television listings company Gemstar-TV Guide International, Inc., a government agency recently announced.
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.
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.
Mark Wilson has resigned as president and chief executive officer of the TV Games Network but will take over as chairman of the company, Gemstar-TV Guide announced Feb. 4.
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-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.
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%.
Gemstar-TV Guide International's stock is tumbling this week because of doubts that the company can protect its interactive programming guide patents in a key court case, according to analysts. Gemstar is the parent company to the TV Games Network, a horse racing network and interactive wagering service.
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.
Churchill Downs' board of directors authorized the repurchase of up to 55,000 shares. The buy-back was authorized to help stablize the company's stock price and contribute to stablizing the market overall. Despite financial experts pleas to investors that they should not react to the terrorist attacks in New York and Washington D.C., the major stock markets sustained significant losses.
Gemstar-TV Guide International posted a second-quarter net loss of $134.8 million (33 cents per diluted share), primarily because of the $223.8-million amortization of intagible assets recorded as part of the acquisition of TV Guide.
Gemstar-TV Guide International Inc. and Adelphia Communications Corp. have signed a 20-year Interactive Program Guide agreement that could feature a major expansion of the TV Games Network. Gemstar-TV Guide is the parent company of TVG.
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.
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