CBS may at long last have an ad-supported, basic cable channel of its own. Published reports over the weekend said that the company has bought a 50-percent stake of the TV Guide Network from JPMorgan Chase's One Equity Partners for $100 million. That would represent a fire-sale price. Lionsgate acquired the channel from Macrovision in 2008 for $295 million, then sold half of it to One Equity Partners and entrepreneur Allen Shapiro for $123 million a year later. The channel comes with a drawback -- its distribution deal with cable providers stipulates that it offer a scrolling program guide, which eats up a huge part of the screen and is something that has been rendered outmoded by most DVRs, which offer their own interactive TV guides.
There's already an Oscars buzz surrounding this movie.