CBS Corp. said on Friday it acquired full ownership of TV Guide’s online and mobile apps divisions, buying out the 50% share held by Lions Gate Entertainment Corp. In March, CBS bought half of TV Guide network (TVGN) from JPMorgan Chase’s One Equity Partners unit for more than $100 million.
The tie-in with CBS gives TV Guide Network leverage to raise fees and expand into more of the 100.4 million U.S. homes with television subscriptions. The network also provides CBS an added outlet on cable for new shows and older programs.
So, CBS now owns TV Guide Digital, which includes the TVGuide.com website and TV Guide Mobile properties, the company said in a statement. CBS and Lions Gate still share ownership of TVGN.
TV Guide Network, historically a guide to programs on other channels, has added regularly scheduled shows in recent years. The network will receive about 3 cents a subscriber per month this year, compared with 2 cents in 2012, according to estimates from SNL Kagan.
TV Guide.com attracts 16.5 million visitors each month, and its mobile apps have been downloaded more than 9 million times, CBS said. Both provide news and information about TV shows and movies in addition to TV listings.
