Gemstar Shares Surge on Deals

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Shares in Gemstar-TV Guide International Inc. gained nearly 4 percent Tuesday after the publisher of TV Guide magazine said late Monday that it signed several syndication deals with publications.


While financial terms of the deals were not disclosed, the Los Angeles-based company said it inked deals with entertainment publication Variety, The Seattle Post-Intelligencer as well as with Voxant, which operates a distribution network for online news, and The Minneapolis Star-Tribune.


Variety, which is owned by Reed Elsevier PLC, will have the right to use Gemstar’s patented interactive TV Guide program listing grid on its Web site, while the Seattle newspaper, which is owned by Hearst Corp., will feature TV Guide’s editorial content on the front page of its Web site and in its online entertainment section.


Shares in Gemstar gained 3.6 percent Tuesday to $6 in afternoon trading Tuesday on the Nasdaq. Shares in Gemstar have nearly doubled so far this year.

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