Debt buyback...
TV Guide, Inc. Announces Bond Buyback Offer
TULSA, Okla., Aug. 10 /PRNewswire/ -- TV Guide, Inc. (``TV Guide''), a subsidiary of Gemstar-TV Guide International, Inc. (Nasdaq: GMST - news; ``Gemstar''), today announced that it is commencing an offer to purchase for cash all of its outstanding 8 1/8% Senior Subordinated Notes Due 2009 (CUSIP Number 87307QAC3) (the ``Notes'') from registered holders thereof. The offer is being made as a result of the transfer of control of TV Guide by reason of its acquisition by Gemstar on July 12, 2000 and is required pursuant to the terms of the indenture governing the Notes. The obligations under the Notes remain exclusively obligations of TV Guide and its guarantor subsidiaries. The Notes have not become obligations of Gemstar.
The change of control offer commenced today and will expire at 5:00 p.m., New York City time, on September 15, 2000, unless extended (the ``Change of Control Offer Expiration Date''). Holders of Notes who have validly tendered and not withdrawn their Notes prior to the Change of Control Offer Expiration Date will receive 101% of the principal amount thereof plus accrued and unpaid interest to, but not including, the payment date.
Requests for assistance and copies of the change of control offer and consent solicitation materials should be directed to The Bank of New York, the depositary, at (212) 815-6335.
SOURCE: Gemstar-TV Guide International, Inc. |
