Oct 4, 2022 - Economy
TV Guide is media's iconic hot potato
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Illustration: Aïda Amer/Axios
TV Guide has been sold. Again. This time as part of a digital media portfolio that switches hands from Red Ventures to TPG-backed Fandom for around $50 million.
- Right now you're likely thinking one of three things, depending on your age: (1) TV Guide still exists? (2) What is TV Guide? (3) What is TV?
Why it matters: For those with the first question, TV Guide is an iconic brand that's also been an M&A hot potato since the internet eradicated the need for a published compendium of TV program listings.
- That includes both the magazine itself, which somehow still exists, and separately owned digital properties.
History: TV Guide first hit supermarket checkout aisles in 1953, and hit its valuation peak in 1988 when it was acquired by News Corp. for $3 billion.
- By 1996 it had begun developing a digital presence, and two years later was sold by News Corp. to something called United Video Satellite Group (owner of the Prevue Channel, which became TV Guide Network) for around $2 billion. UVSG itself would be acquired by Gemstar, which then would be purchased by Macrovision.
- In 2008, Macrovision sold the print magazine for just a single dollar to OpenGate Capital. The digital assets soon would be co-owned by Lionsgate Entertainment and One Equity Partners.
- CBS in 2013 would buy out both One Equity Partners and Lionsgate (in that order), and eventually shove TV Guide within its CNET unit. TV Guide Network would get rebranded as Pop TV.
- In 2015, OpenGate sold the print magazine to Michigan-based NTVB Media, which has published it ever since.
- In 2020, Red Ventures bought CNET, and thus the TV Guide digital properties — all of which now goes to Fandom, alongside such brands as Metacritic and GameSpot.
The bottom line: TV Guide cannot and will not be killed. It will, however, almost certainly be sold again.
