CBS boosts cable footprint with stake in TVGN

CBS, in a deal said to be worth about $100 million, has closed on its acquisition of a 50% stake in TVGN, formerly called TV Guide Network. The channel, which CBS will run in partnership with Lionsgate, is transitioning from being mainly TV listings to a general entertainment focus. "This is a strategic way for CBS to use its content brands and gain access to a highly distributed basic cable network that has a lot of upside," said Les Moonves, CBS president and CEO.

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