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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: alankeister who wrote (2754)	4/12/2000 4:37:00 PM
From: Mike Buckley	Respond to of 6516

Pasadena, California, April 12 (Bloomberg) -- Gemstar International Group Ltd. denied speculation that the software maker's $9.2 billion acquisition of TV Guide Inc. could be canceled. Chief Executive Henry Yuen said the company plans to complete the purchase, announced last October, before July. An Internet site that specializes in market speculation reported rumors that the takeover had been scrapped. Shares of both Gemstar, the maker of VCR Plus software, and TV Guide, publisher of the weekly magazine of television listings, declined. Gemstar fell 8 1/2, or 15 percent, to 47 on the Nasdaq Stock Market. TV Guide lost 5 7/8, or 17 percent, to 29 3/8 on the Nasdaq. ``We have no indication of any trouble,' said Yuen, also the company's chairman, president and second-largest shareholder. ``There is no truth' to the speculation. TV Guide President Peter C. Boylan III also said the transaction should be completed as scheduled. VCR Plus software lets viewers record TV shows by entering a number included in program listings. Gemstar is based in Pasadena, California, and TV Guide is in Tulsa, Oklahoma.