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PaineWebber media conference
The picture from TV Guide
By Jon Friedman, CBS MarketWatch
Last Update: 12:04 PM ET Dec 7, 1999 NewsWatch
NEW YORK (CBS.MW) -- When it comes to powerful brand names, you'd be hard pressed to find a better media magnet than TV Guide, which is in the midst of merging with Gemstar. TV Guide President and Chief Operating Officer Peter Boylan III sought to dispel any concerns by investors that the merger was problematic. "There are lots of silly rumors in the marketplace," he said, adding that he is "highly confident that the deal will clear Justice," referring to the U.S. Department of Justice.
Boylan, who made his comments Tuesday at the 27th annual PaineWebber (PWJ: news, msgs) media conference in New York, stressed that TV Guide's (TVGIA: news, msgs) strong brand familiarity gives it an edge in the new digital media world.
"We've got content second to none," Boylan said. He conceded that TV Guide Online is "relatively unnoticed" but said the magazine's strengths, such as the largest weekly readership in the world and its "intellectual property," will give it a leg up. "There is no substitute for a book that sits on a coffee table for a week with a pretty face on it.," he said.
Shares of TV Guide rose 2 5/16 to 69 3/4 in recent trading; Gemstar shares moved up 4 1/16 to 126 1/4.
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