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CBS Acquires 50% of TV Guide

CBS just agreed to purchase a 50% stake in TV Guide Network JPMorgan Chase’s equity investment unit for $100 million to enter in a 50/50 partnership with Lions Gate.

 Known for its channel listings, TV Guide is available in 80 million homes according to CBS and will continue to focus on entertainment.

As a reminder, the price is less than the $123 million that JPMorgan Chase's One Equity Partners paid for a 49 percent stake four years ago.

As a result CBS shares closed at $45.71, up 29 cents, Lions Gate gained 2.67% to close at $23.81 while JPM fell by 1.79%