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Gemstar Considering Sale

Los Angeles – Gemstar-TV Guide International revealed that it is exploring options for the company, including a sale.

The disclosure sent share prices surging on the Nasdaq Tuesday as much as 77 cents, or 14 percent, to $6.11.

Rupert Murdoch’s News Corp., which has a 41 percent stake in Gemstar, said it supports the decision to seek alternatives.

Gemstar, which holds most of the patent rights for interactive program guide technologies, is moving more content onto mobile phones and the Internet after cutting circulation at its TV Guide magazine.

UBS Investment Bank is acting as financial adviser and Wachtell, Lipton, Rosen & Katz is providing legal advice, Gemstar said in a statement Monday.