CBS Corp. to Buy One Equity Partners' stake in TV Guide Network

By Edward B. Doong

Mar 23, 2013 09:06 AM EDT

New York-based mass media firm CBS Corp. will buy One Equity Partners' stake in TV Guide Network for about $100 million, people familiar with the deal disclosed.

One Equity Partners, the private-equity unit of J.P. Morgan Chase & Co., has 49% holding of TV Guide Network with an option to purchase another 1%.

In 2009, TV Guide Network and TV Guide Online were purchased by Lions Gate Entertainment Corp., an independent film and television distributor, in a $255 million deal. The stake in both properties was then sold to OEP.

Officials at CBS were not available to comment on the issue. Lions Gate declined to respond to the speculated buyout.

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