Macrovision Shareholders Approve Gemstar Buy
This story was written by Joseph Weisenthal.
It's time to put theory into practice: Despite some initial skepticism (that never really went away) Macrovision (NSDQ: MVSN) shareholders have approved the company's poorly understood acquisition of Gemstar. A statement put out this evening didn't specify the vote tally, but despite some initial loud objections, opposition never really materialized. With the agreement, Macrovision also announced that it had secured $650 million in debt financing to close the deal.
So what happens with TV Guide now? The company has indicated its plan to sell the print magazine, as it doesn't fit into the vision, but we'll learn whether or not it will follow through on its desire to keep the site's domain. Release.
By Joseph Weisenthal