NEW YORK, March 22 (Reuters) – CBS Corp is nearing an agreement to purchase about half of TV Guide Network, according to various media reports on Friday.
The New York-based mass-media company is expected to pay about $100 million to buy out the TV Guide Network stake held by One Equity Partners, the private-equity arm of J.P. Morgan Chase & Co, the Wall Street Journal reported, citing people familiar with the matter.
OEP owns 49 percent of TV Guide Network, with an option to buy another 1 percent. The report said a deal could be announced as early as next week.
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CBS nears deal to buy half of TV Guide Network
