UPDATE 1-Lionsgate to buy TV Guide for $255 million
* Macrovision will sell TV Guide to Lionsgate for $255 mln
* Terminates deal to sell to One Equity Partners
* Deal set to close by Feb. 28
SAN FRANCISCO, Jan 5 (Reuters) - Lionsgate (LGF.N) agreed to buy TV Guide and TV Guide Network, seen by 83 million homes, for $255 million, from Macrovision Solutions Corp MVSN.O, the companies announced on Monday.
At the same time, Macrovision ended an agreement made last month to sell the properties to Allen Shapiro and One Equity Partners for the same price.
"On the surface it's the same price," said Alan Davis, an analyst with D.A. Davidson& Co., of Lake Oswego, Oregon. But he said the deal with Lionsgate was better because it has a closing date of Feb. 28, sooner than the other deal, and fewer contingencies.
"Those deals are tenuous to begin with considering the credit market," Davis said.
Lionsgate said it would pay with existing cash and available funds.
"The closing is not subject to financial performance requirements," the companies said in a joint statement.
Macrovision sells digital entertainment technology, and Lionsgate is a producer of movie and television programs.
The companies said that TV Guide Network is the 19th most distributed channel
"This is tremendous real estate, rarely available, that fits extremely well with our strategy of combining content creation, distribution and directaccess to the consumer," Lionsgate Co-Chairman and Chief ExecutiveOfficer Jon Feltheimer said in the statement.
Macrovision will continue to be able to license its online guide to other portals.
Lionsgate's television business includes many television shows, such as MadMen for AMC, South Park and Family Feud. (Reporting by David Lawsky; Editing by Bernard Orr)
