• June 23, 2004

Gemstar-TV Guide International said Wednesday that it had reached agreement with the U.S. Securities and Exchange Commission to end the SEC's probe into financial reporting.

A proposed final judgment has been filed by the SEC with the Central District Court of California, Gemstar-TV Guide said. The SEC's complaint alleges that the Company violated certain public reporting, record keeping and internal controls requirements. Under the terms of the settlement, the Company will pay a civil penalty of $10 million, without admitting or denying the SEC's allegations. The Company will pay the $10 million civil penalty using funds already set aside and expensed in connection with the previously announced settlement agreement related to the Consolidated Federal Securities Class Action litigation.