Macrovision says confident in Gemstar deal

NEW YORK (Reuters) - Macrovision Corp (MVSN.O) said on Friday it is confident that its $2.8 billion proposed purchase of Gemstar-TV Guide International Inc GMST.O would provide "enormous value" for shareholders, despite investor concerns over the prospects of a shared business model.

Shares in Macrovision slipped more than 26 percent lower after it announced the deal and said it would take on $800 million in new debt to finance it.

Company executives said on a call that the deal agreement carries a breakup fee of just under $56 million.

(Reporting by Michele Gershberg, editing by Gerald E. McCormick)