Cable Network May Be Put Up for Sale

Aug 3, 2011  •  Post A Comment

A cable network may soon have an ownership change, after news surfaced that one of its owners has taken steps to sell the website associated with the channel, reports Deadline.com.

Lionsgate has started interviewing investment bankers to sell TVGuide.com, as the company seeks to shed non-core assets, the story reports. The move is seen as an indication that Lionsgate is at least contemplating a change in the ownership picture for TV Guide Network.

The consumer website could fetch between $50 million and $100 million, the story says.

TV Guide Network recently secured long-term carriage agreements with top cable operators, the story says. The channel is owned by both Lionsgate and JP Morgan Chase’s investment arm One Equity Partners, and one or the other partner might end up buying out the other’s share of the TV Guide Network, the piece says.

Lionsgate, which has expressed interest in increasing its ownership of TV channels, is considered to be the more likely buyer.

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