CBS Corp., Discovery Looking at Lionsgate's TV Guide Channel Deal (Report)
The cable network's sale could draw as much as $350 million.
NEW YORK - Discovery Communications and CBS Corp. have looked at potentially buying the TV Guide Network, the New York Post reported.
Lionsgate and JPMorgan’s private equity arm One Equity Partners have looked at selling the cable channel since January along with the TVGuide.com Web site, which they put on the auction block last year. The latter has also drawn interest from TV Guide magazine owner Open Gate Capital, founded by Andrew Nikou, according to the paper.
The Post said the network's sale could draw as much as $350 million, while the site could fetch around $50 million.
A spokeswoman for Discovery, which owns such networks as Discovery, TLC and Animal Planet, as well as joint venture channels OWN and The Hub, declined comment. A spokesman for CBS Corp., which owns smaller cable channels CBS Sports Network and Smithsonian Networks and premium TV outfit Showtime, also declined comment.
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