United Video Satellite Group Completes Combination With News Corporation's TV Guide
Posted on March 2, 1999
United Video Satellite Group, Inc. (United Video) and News Corporation have announced the completion of their agreement to combine News Corporation's TV Guide properties with United Video. At the same time, United Video announced that, effective today, it has changed its name from United Video to TV Guide, Inc. ("TV Guide"), and its trading symbol to (NASDAQ: TVGIA).
The Company also announced that Anthea Disney, who currently serves as Chairman and CEO of News America Publishing Group, Inc. has been appointed to the position of Chairman and CEO of TV Guide. News America Publishing Group is a subsidiary of News Corporation based in New York City that operates TV Guide Magazine, HarperCollins Publishers, News America Digital Publishing, and the Weekly Standard Magazine. Ms. Disney will continue to reside in New York City. Gary S. Howard, current chairman and chief executive officer of United Video, will remain a Director of TV Guide.
Additionally, the Company has formed an "Office of the Chairman" that includes Ms. Disney, and Joe Kiener and Peter C. Boylan III, who will both report to Ms. Disney. The Office will be responsible for overseeing the three primary business units of the company: TV Guide Magazine Group, TV Guide Entertainment Group, and the United Video Group.
Mr. Kiener, who currently serves as President and COO of News America Publishing Group, has in addition been named President of TV Guide, Inc. and Chairman and CEO of TV Guide Magazine Group. Mr. Kiener will be based in New York City. In addition, Mr. Kiener will oversee the international businesses of TV Guide and corporate information technology.
Mr. Boylan, who is currently President and COO of United Video has been named Executive Vice President of TV Guide. In addition, Mr. Boylan has been appointed Chairman and CEO of the TV Guide Entertainment Group and the United Video Group, which remains based in Tulsa, Oklahoma. Mr. Boylan will also oversee the legal and financial affairs of TV Guide.
TV Guide has also appointed a new board of directors including Robert S. Bennett, Mr. Boylan, Chase Carey, Peter Chernin, Ms. Disney, Mr. Howard, Mr. Kiener, Larry Romrell, David Wargo, and a yet to be named director.
Ms. Disney, Chairman & CEO of TV Guide and Chairman and CEO of News America Publishing Group, a title she will retain, said, "Under the trusted TV Guide brand, we will create a comprehensive global entertainment TV guidance company for all media - print, on-screen, on-line, and interactive. This is a unique opportunity to offer an exciting range of critical guidance products to both consumers and advertisers."