TV Guide Purchase Was Basically Free
Yesterday, after hearing about OpenGate Capital’s purchase of TV Guide we wondered why the company would buy the struggling pub, writing, “Honestly, it’s a little hard to understand what OpenGate sees in the magazine, even if the purchase was for an absolutely rock bottom price.”
Well, it turns out that was 100 percent the case. Advertising Age‘s Nat Ives found out that the investment company bought the mag for a grand total of $1. Furthermore, Macrovision — which owned TV Guide — will give OpenGate a $9.5
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