By Nellie Andreeva (03.22.2013)
EXCLUSIVE: CBS Corp, which already owns/co-owns broadcast networks CBS and the CW, pay cable network Showtime, and international TV channels, is adding a domestic basic cable network to its portfolio. I’ve learned that it is nearing a deal to acquire JP Morgan’s One Equity Partners’ interest in TV Guide, the company that encompasses the TV Guide Network, recently rebranded as TVGN, and TVGuide.com. With the deal, which could close as early as next week, CBS will become a 50–50 partner with TV Guide co-owner Lionsgate Entertainment, which originally acquired TV Guide in February 2009 for $241.6 million. I hear CBS will play slightly less than the $122.4 million One Equity Partners shelled out for 49% of TV Guide in June 2009 with an option to increase its stake by 1%.