I'd Buy That for a Dollar
TV Guide sells for 1/40,000 of your college tuition
 


Much like the time Bart Simpson went to an auction and accidentally bought an abandoned warehouse, Macrovision finalized its deal with OpenGate Capital to sell the unprofitable TV Guide to the equity fund for $1. A buck.

And that's even after the "glorified database" Macrovision offered OpenGate $9.5 million in loans with little interest to keep the fund interested and able to do business, although Macrovision still gets to keep control of the dot-com division. Meaning these days a $9.5 mill loan is worth approximately 100 pennies.

Nice, America.

Oct 16, 2008 · 14 views (beta) · Link · Respond
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