Shares of Gemstar-TV Guide International Inc. (Nasdaq: GMST) jumped on Tuesday after the company said it was exploring strategic partnerships, including possibly selling itself.
Gemstar share rose 64 cents, or 12 percent, to reach $5.98 at the end of regular trading hours on the Nasdaq Stock Market.
Late Monday the company announced that its board will work with management and legal and financial advisors to evaluate the company's available alternatives.
The publisher of TV Guide has been moving more content onto the Internet and mobile phones in recent years. Makers of set-top boxes have begun offering similar services, while popular websites, such as Yahoo and AOL also give television listings.
The company hired UBS Investment Bank as a financial adviser. It gave no timeline for making a decision.