Gemstar-TV Guide International (GMST) to Explore Strategic Options
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Gemstar-TV Guide International, Inc. (NASDAQ: GMST) has authorized the Company and its advisors to explore strategic alternatives intended to maximize shareholder value, which may include a sale of the Company.
Anthea Disney, Chairman of the Board of the Company, said, "The Company has made significant improvements throughout its businesses and the Board is very pleased with the growth and strategic direction under CEO Richard Battista. We are now poised to investigate the range of available strategic alternatives for continuing to build shareholder value."
The Board of Directors will work with the Company\'s management team and its legal and financial advisors to evaluate the Company\'s available alternatives and identify the course of action it believes is in the best interests of all its shareholders. UBS Investment Bank is acting as financial advisor to the Company, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor.
In making the announcement, the Company stated there can be no assurance that the exploration of strategic alternatives will result in any transaction. The Company undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives unless and until a final decision is made.
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