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To: Andrew N. Cothran who wrote (658)	10/26/1999 2:24:00 PM
From: Robert	Respond to of 6516

Tuesday October 26 12:58 PM ET TV Guide profit falls after merger costs TULSA, Okla. (Reuters) - TV Guide Inc (Nasdaq:TVGIA - news). reported Tuesday third-quarter profits fell sharply due to costs associated with the merger between TV Guide magazine and the United Video Group, owner of the Prevue cable TV channel. The company reported a third-quarter profit of $1.3 million, or 1 cent a diluted share, compared with last year's third-quarter profit of $21.1 million, or 24 cents. Wall Street analysts expected a break-even quarter, according to First Call/Thomson Financial. In March, TV Guide merged with United Video Group, combining the magazine with United's assets, which include the Prevue Channel, later renamed TV Guide Channel. The company said earnings per share were diluted by the impact of 66.5 million additional shares of common stock issued on March 1 to complete the acquisition of TV Guide Magazine, which has 11 million subscribers. The third quarter was also affected by the amortization of intangible assets recorded as a part of that acquisition. A company spokesman had no details on the amortization. Third-quarter revenues totaled $302.6 million, up 90 percent from last year, with the inclusion of TV Guide's magazine group accounting for the increase. Earlier this month, the company announced plans to merge with Gemstar International Group Ltd (Nasdaq:GMST - news). in a deal worth $9.2 billion. TV Guide shares rose 5/8 to 52-1/2 Tuesday on Nasdaq. Reuters/Variety

To: Andrew N. Cothran who wrote (658)	10/26/1999 2:29:00 PM
From: Robert	Read Replies (1) \| Respond to of 6516

From the Yahoo thread "TV GUIDE, INC. (TVGIA - NASDAQ - $51 7/8) reported today, financial results for its third quarter ended September 30, 1999. TV Guide Magazine Group reported revenue of $154.4 million, bettering our estimate of $145.4 million by 6.2%. Magazine Group EBITDA was $36.3 million versus our estimate of $29.4 million. TV Guide Entertainment Group reported revenue of $22.9 million versus our estimate of $22.1 million, resulting in EBITDA of $1.2 million versus our estimate of ($2) million. The Entertainment Group generated $19.9 million in revenue in 3Q 1998 and $7.6 million in cash flow. We estimate that the decrease in cash flow year over year is a result of additional costs related to the redesign and re-launch of the “new” Sneak Prevue channel. United Video Group reported revenue of $133.5 million, a decrease of 8% versus the $145.5 million generated in 3Q 1998 and approximately $3 million less than our estimate of $136.7 million. We estimate that the decrease is a result of expected decreases in TV Guide's C-band business (We expect total Superstar/Netlink revenue to decrease 5% in 1999 versus 1998.). United Video EBITDA for the quarter was $15.4 million, a decrease of 52% from 3Q 1998 and approximately $4 million less than our estimate of $19.8 million. We believe the decrease in United Video EBITDA is primarily due to launch costs incurred by TVG Network. Total EBITDA for the quarter was $52.9 million, bettering our estimate of $47.3 million by 11.8%. TV Guide earned $1.3 million or $0.01 per diluted share for the quarter versus our estimate of ($1.9) million or ($0.01) per diluted share (Total results are not comparable year over year as the Magazine Group's results are not included in the 1998 period.)."