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CBS buys 50% of TVGuide.com

It's official -- CBS is now the proud half-owner of TVGuide.com and its affiliated entertainment cable network TVGN. CBS plans to acquire the ownership stake currently held by One Equity Partners, the investment arm of JPMorgan Chase.

CBS Corporation and Lionsgate -- the other owner of the two properties -- announced the acquisition on Tuesday. According to the companies, the new venture will exploit CBS's programming, production and marketing assets, along with Lionsgate's resources in movies, television and digitally developed content.

Exact details of the deal were not divulged, though an individual with knowledge of the deal told TheWrap last week that the purchase price in the $100 million to $120 million range.

Source: Full Article @ TheWrap

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