News Corp. Sells Macrovision Stake; Puts A Bad Investment Behind It
By Joseph Weisenthal - Fri 06 Jun 2008 06:11 AM PST
This isn’t a surprise, since News Corp (NYSE: NWS). was a key agitator of Gemstar’s sale to Macrovision… News Corp. has sold its 19 percent stake in the company, Macrovision (NSDQ: MVSN) confirmed this morning. The buyers were new and existing institutional investors, which should reduce the impact of a large chunk of shares hitting the market. Thus ends a terrible investment for News Corp., resulting in a loss of over $6 billion from its initial investment in Triangle Publishing back in 1998. Release.
Posted in: Companies, News Corp., VC+M&A, Mergers & Acquisitions
Tags: macrovision,
