Lionsgate In Advanced Negotiations To Sell

EXCLUSIVE. The online TV navigation site could go for about $20M — possibly as much as $25M I’m told — and would enable Lionsgate to cash in on a property that’s considered peripheral to its main production and TV networks businesses. Details about the negotiations are still sketchy; I hear that the potential buyer sees this as a strategic acquisition — it isn’t a private-equity company looking for a quick buck. And while talks are advanced, they still have a way to go, and could still fall apart. Lionsgate reported in May that had 24M monthly unique users and more than 6.5M mobile application installations. Lionsgate has been weighing options for for more than a year. It paid $241.6M for the TV Guide website and network in February 2009. Three months later, JP Morgan’s One Equity Partners teamed with investor and producer Allen Shapiro and paid $122.4M for half of the combined operation. Shapiro ran the network and website until a few weeks ago, when he left to run Dick Clark Productions. His lieutenant Mike Mahan is running them on an interim basis.

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