Macrovision (NSDQ: MVSN) Solutions, the successor to Macrovision and Gemstar, has reported Q2 revenue of $148.6 million, up 10.7 percent compared to $133.9 million. The numbers assume that the two had been merged last year, and it excludes certain ops marked for discontinuation, like TV Guide and the games business, which has been sold. Adjusted pro-forma EBITDA (yes, that’s three layers of adjustments but necessary to get a clean comparison out of this release) was $39.2 million, up from $33.5 million. The technology solutions business grew 21 percent to $105.9 million, while the media networks side fell to $42.6 million from $46.7 million. The company says integration of the companies is going smoothly and that they’re on track for $50 million in annual cost savings.

Besides TV Guide magazine, which it is counting as a discontinued business, it is also including eMeta, the publishing right access company it bought in 2006 for $35 million, in the discontinued line. Not sure if it is close to selling off that part, but likely.

““It is not surprising, given the widely publicized downturn in advertising markets, that our non-strategic Media Networks segment is performing below our original expectations. Additionally, we determined that our eMeta business is not core to our technology solutions strategy and have now classified it in discontinued operations,” said James Budge, CFO.

Release | Webcast (5:00 PM ET)

Conference call: CEO Fred Omarosa said the company is past “Phase 1” of the asset sales process: “Phase 1 has come to a close which has resulted in multiple expressions of interest.. the qualified potential purchases are furthering their due diligence.” He noted that there have been dozens of meetings with potential buyers so far. Although the weak ad market is hurting the networks business. Omarosa said the company is confident with estimate sale proceeds of $350-$500 million.

Later during the Q&A, Omarosa indicated that the sales would likely be complete by the end of the year and that the interested buyers includes a mix of both strategics and financials (PE).