UVSGUnited Video Satellite Group
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Meanwhile TV Guide and UVSG agreed to merge under a complex arrangement, and UVSG finally changed its name to TV Guide Inc in March this year.
As a part of the joint venture, UVSG will provide certain key services to the venture including affiliate sales and marketing, network operations, accounting, and national advertising sales and support.
We believe the joining of these two businesses will fortify service to Superstar and Netlink's customers, as well as strengthen the revenue and cash flow potentials of the business," said Roy Bliss, president and chief operating officer of UVSG.
The key strategic advantage for us is the opportunity to utilize the wealth of experience SSDS has in technology and infrastructure design - experience that has already positively impacted our core businesses," said UVSG President Roy Bliss.
UVSG companies include: Netlink International, Prevue Channel, Prevue International, Prevue Interactive, Prevue On-line, Sneak Prevue, Superstar Satellite Entertainment, SSDS, SpaceCom Systems, TV Guide Magazine, Televisions Games Network, Turner Vision, UVTV, United Video Network Sales, United Video Enterprise Solutions, and United Video Technology Ventures.
This relationship strategically positions SSDS and UVSG at the forefront as providers of much needed services to the networks that comprise the Information Superhighway," said Ron Strich, President and CEO of SSDS.
4 million shares of UVSG Series A Common Stock (Nasdaq: UVSGA) held by Lawrence Flinn, Jr.
UVSG will continue to manage the venture and own approximately 41% of the venture, Netlink, a subsidiary of Liberty Media Corporation, will own approximately 41% and Turner-Vision will own approximately 19% of the venture, subject to certain post-closing adjustments.
The agreement was reached between UVSG through its DirectCom division and KASTAR Satellite Communications Corp.
The announcement was made by UVSG Chairman and Chief Executive Officer Gary S.
Boylan III, Executive Vice President and Chief Operating Officer of UVSG.
Superstar, driven primarily by the Superstar/Netlink joint venture, which was formed as a consolidated subsidiary of UVSG effective April 1, 1996, generated revenues and EBITDA of $86.