The Macrovision-Gemstar-TV Guide deal makes conceptual sense on the technology and services side, but what about the media business? What about the magazine, the TV channel, and the websites? It doesn’t really seem central to the combined company’s vision, whoever they want to spin it. During the conference call explaining the $2.8 billion deal, the company said officially there’s no plan to divest of them, but it sounds like a possibility. Macrovision (NSDQ: MVSN) CEO CEO Fred Amoroso: “[I plan to] spend more with rich and his team before making any decision about their strategic value.” He then added that the magazine shouldn’t be seen as a magazine, but rather another platform for delivering TV Guide information. We’ll try and find out more, but my guess is they’re looking for buyers for that division, with some licensing arrangement on TVGuide brand name to be worked out in the deal.

From an internal employee FAQ that Macrovision sent out:
Q: Does Macrovision intend to keep the Gemstar-TV Guide brand name intact?
A: The TV Guide brand is among the best known brands in the US, a strong publishing brand and a valuable franchise. Macrovision will be evaluating the future role of the brand, however, there are no plans at this time to eliminate or change the brand as associated with key entertainment properties.

Meanwhile, a rather timely story in NYT looks at the future of TVGuide’s media franchise, and its new ad campaign. The tagline of the new ads, “We’ll get you through the week,” is meant to underscore TV Guide’s breadth of offerings beyond hourly program listings…it is running online and on TV. According to Ian Birch, the editor in chief of TV Guide magazine, “The new TV Guide is about the fans, about the passionate viewers—it’s not about somebody who looks at railway timetables,” he said. In that context, the media properties look even more out of place within MVSN-Gemstar deal.

Some figure on TVG the magazine: the magazine’s circulation has declined from a peak of 19.8 million in 1974 to 3.2 million this year. Some recent good news for the magazine, however: the ad pages are up 28 percent year to date compared with 2006.

• Macrovision-Gemstar: Conference Call: Synergies; Magazine Future; Stock Jitters; $800m Debt
• Macrovision Buying Gemstar-TV Guide for $2.8 Billion