Macrovision, Gemstar combine in $2.8 billion deal to form Macrovision Solutions

By Lisa Kerner

Charlotte, N.C., May 2 - Macrovision Corp. completed its acquisition of Gemstar-TV Guide International, Inc. to form Macrovision Solutions Corp., which Macrovision described as "a key enabler of the digital home entertainment experience."

As previously reported, Macrovision agreed to acquire Gemstar in a cash and stock transaction valued at some $2.8 billion.

The merger agreement called for Gemstar stockholders to receive $6.35 in cash or 0.2548 of a share of common stock in a new holding company that will own both Gemstar and Macrovision, a prior news release said.

"Gemstar-TV Guide adds important capabilities to our existing portfolio and roadmap for the digital entertainment market," Macrovision chief executive officer and president Fred Amoroso said in a news release on Friday.

Former Macrovision stockholders now own approximately 53% and former Gemstar stockholders own some 47% of Macrovision Solutions, according to the release.

Shares of Macrovision Solutions common stock will begin trading on the Nasdaq Global Select Market on Monday under the temporary ticker symbol "MVSND" and under the symbol "MVSN" beginning June 2, Macrovision said.

The common stock for both Macrovision and Gemstar will cease trading effective Monday.

Shareholders of both Gemstar and Macrovision approved the merger on Tuesday.

Gemstar is a media and entertainment company located in Los Angeles.

Macrovision provides digital lifecycle management solutions, including anti-piracy and content protection solutions. The company is based in Santa Clara, Calif.

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