United Video Satellite Group Completes Combination With News Corporation's TV Guide.NEW YORK--(BUSINESS WIRE)--March 2, 1999-- United Video Renamed TV Guide, Inc. Anthea Disney named Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ; Office of the Chairman Announced United Video Satellite Group, Inc. (United Video) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UVSGA) and News Corporation (NYSE NYSE See: New York Stock Exchange : NWS NWS National Weather Service NWS Naval Weapons Station NWS New World Symphony NWS Nuclear Weapon State NWS Not Work Safe NWS National Watercolor Society NWS North Warning System NWS Nose Wheel Steering NWS National Waste Strategy (UK) ) today announced the completion of their agreement to combine News Corporation's TV Guide properties with United Video, forming an industry-leading platform for television guide services to consumers and advertisers. 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 New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. 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
Robert S. Bennett (born 1939) is an American attorney best known for representing President Bill Clinton during the Monica Lewinsky investigation. , Mr. Boylan, Chase Carey, Peter Chernin, Ms. Disney, Mr. Howard, Mr. Kiener, Larry Romrell, David Wargo, and a yet to be named director. "I am very proud of our accomplishments at United Video over the last several years," said Gary S. Howard. "Our combination with TV Guide and the News Corporation will further strengthen our ability--both domestically and abroad--to pursue strategic business opportunities that complement our core business units. The new management team and our newly formed "Office of the Chairman" brings together a diverse set of skills and abilities that should greatly benefit our customers, employees, and shareholders, and I look forward to remaining involved with TV Guide in my ongoing capacity as a 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." Under the terms of the deal, first announced last June, TV Guide remains a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. jointly controlled by Liberty Media Corporation (NASDAQ: LBTYA), and News Corporation, who will each have approximately a 49% voting interest and 44% economic interest in TV Guide. The public shareholders will continue to own approximately 12% of the company. News Corporation received approximately $800 million in cash and 60 million shares of United Video stock. United Video is a 33 year old global diversified media and communications company headquartered in Tulsa, Oklahoma. UVSG UVSG United Video Satellite Group develops and distributes products including the TV Guide Channel, formerly the Prevue Channel, Sneak Prevue and WGN WGN Wellington WGN White Gaussian Noise WGN World's Greatest Newspaper (Chicago, IL, USA) WGN World Gastroenterology News WGN We Got Nomar WGN World's Greatest Network WGN Wireless Network Gateway WGN Wagon to over 100 million cable and satellite homes in the U.S. United Video also manages and operates Superstar/Netlink Group, the largest provider of C-band DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. video services with 1.2 million customers. United Video companies include Prevue Networks, Sneak Prevue LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Prevue International, Prevue Interactive, Superstar Satellite Entertainment, UVTV, SpaceCom Systems, SSDS SSDS SQL Server Data Services SSDS Ship Self Defense System SSDS Space Science Data System (NASA) SSDS Sudden Sniffing Death Syndrome SSDS Secure Software Distribution System SSDS Sexual Self-Disclosure Scale , Televisions Games Network, United Video Network Sales, United Video Enterprise Solutions and United Video Technology Ventures. For up to date information about the United Video Satellite Group of companies, please access our Internet home page at www.uvsg.com. United Video trades on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol UVSGA. TV Guide is America's largest-selling weekly magazine with a circulation of 11.8 million and approximately 35 million readers. TV Guide produces 210 custom editions every week. Additionally, the Magazine Group produces the monthly magazine, The Cable Guide, which has a circulation of 4 million and approximately 11 million readers, and See, the official guide for DIRECTV. |
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