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SANTA CLARA, Calif. - Macrovision Solutions Corp., which develops security software to prevent copying of videos, said Monday it agreed to sell TV Guide magazine, completing its plan to divest the publication following its purchase earlier this year of Gemstar-TV Guide International Inc. for about $2.3 billion.
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Macrovision did not disclose the terms of the sale to OpenGate Capital. It expects to close the deal around Dec. 1.
Macrovision bought Gemstar for its programming data. It wants to allow consumers to call up information about TV shows, view personal photos and access music libraries on a variety of electronic devices through a combination of its security software and Gemstar programming data.
The company said it will not report a gain or a loss related to the sale of the magazine.
Macrovision shares jumped $1.42, or 12 percent, to $13.67 Monday as broader markets rallied. In the past year, the stock has ranged from $11.09 to $27.48.
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