TVG has been classified as a discontinued operation by parent company Macrovision Solutions Corp., which says it in the "final phases" of negotiations to sell the horse racing network.
TVG, which posted partial-quarter net revenues of $8.8 million for new owner Macrovision Solutions Corp. Aug. 7, is still on the sales block. Officials with the parent company said the horse racing network has received multiple inquiries from undisclosed suitors.
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.
Macrovision Corp. announced May 2 that it has completed its acquisition of Gemstar-TV Guide, the parent company of the TVG horse racing network.
The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.
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.
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.
Macrovision Corp., which develops technology to prevent unauthorized copying and viewing of video, music and other content, said Dec. 7 it will buy the parent company of TVG, Gemstar-TV Guide International Inc,. for $2.8 billion in cash and stock.
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