Lionsgate on Thursday sold a 49 percent stake in its TV Guide property to One Equity Partners, JPMorgan Chase’s global private equity investment arm, for $123 million in cash.
Vancouver-based Lionsgate, which paid $255 million in February 2008 to Macrovision Solutions for the TV Guide Network cable channel and TVGuide.com online business, said One Equity Partners retains an option to purchase another 1 percent stake in the TV properties.
As part of the deal, media investor Allen Shapiro will join the partnership as chairman to help steer the channel’s growth, supported by Lionsgate’s TV management team.
Shapiro, a former CEO of Dick Clark Prods.,
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