Macrovision moves forward on plans to sell TVG

FROM: Thoroughbred Times

BY: Frank Angst

In a conference call with investment analysts on Thursday, Macrovision Solutions Corp. officials said the company is continuing efforts to sell Television Games Network.

Macrovision said multiple buyers have expressed interest in TVG, an advance-deposit wagering provider and horse racing television channel. Macrovision has moved into a second phase of working toward a sale that allows suitors diligence and hopes to complete a sale before year’s end. This week, Youbet.com officials acknowledged interest in TVG.

Despite second-quarter drops in revenue at TVG, Macrovision believes the expansion of the TVG horse racing television station, which surpassed 30-million homes in the second quarter, makes TVG an attractive purchase for a company willing to market the company.

Second-quarter revenue declined for TVG compared with the same three months last year. Macrovision reported revenue dropped 11.3% for TVG to $13,007,000 compared with last year’s second quarter. For the first six months of the year, TVG revenue is down 17.3% to $21,588,000.

Macrovision, a home entertainment company, became owner of TVG in May when it acquired Gemstar-TV Guide.