• by Wayne Friedman , January 6, 2009

In a sudden move, Lionsgate Entertainment will now be the new owner of TV Guide Network and TV Guide.com.

TV Guide Network's owner Macrovision Solutions Corp abruptly changed gears and struck a $255 million cash deal with Lionsgate Entertainment Group, which will expand the cable network into a full-fledged entertainment network.

In mid-December, Macrovision struck an agreement with Allen Shapiro, former owner of Dick Clark Productions, and One Equity Partners LLC. But that agreement also included a clause allowing Macrovision to talk with other possible buyers.

Although the purchase price was about the same, Macrovision officials said Lionsgate's offer was more attractive.

Lionsgate Entertainment--known for theatrical movie franchises "Saw" and "Tyler Perry," as well as TV series "Mad Men" and "Weeds"--is now strengthening its cable holdings in a major way. Lionsgate already co-operates FearNet, an on-demand cable horror film channel with Sony Corp. and Comcast Corp., and Epix, a movie channel it is developing with Viacom Inc. and Metro-Goldwyn-Mayer Inc. to begin operation in October.

Lionsgate will push the TV Guide Network, a widely distributed cable TV network in 83 million homes, into the bigger world of entertainment news. It will compete with E! Entertainment and syndicated programs such as "Entertainment Tonight" and "Access Hollywood."

Until now, Lionsgate had focused mostly on male-driven properties, particularly in the horror film vein. TV Guide Network, with its female-skewing demos, represents a departure. Lionsgate Chief Executive Jon Feltheimer says there could be more acquisitions in the near future.

For years, previous owners, including Rupert Murdoch's News Corp., attempted to make it into a bigger network. The channel was primarily known for its TV program listings scroll at the bottom of the screen.

Lionsgate's Feltheimer has said within the next couple of years, it expects the channel to be a full-service--and full-screen--entertainment-focused channel.