TV Guide Channel undergoes major changes under new ownership

TV Guide Channel, which has been acquired by Lionsgate, has shifted directions by downgrading some of its existing shows and instituting a number of layoffs.

According to an article on HollywoodReporter.com, "The weekly talk show 'TV Watercooler' is going off the air starting June 22. Daily entertainment newsmagazine 'Hollywood 411' will become a weekly show starting June 26. And the weekly TV-centric series 'Infanity' will continue as specials starting June 26.'"

As for the layoffs, they include two on-air personalities, John Fugelsang and Teresa Strasser of "TV Watercooler," 15 full-time staffers, 15 full-time temps and six open unfilled positions. No executives were affected.

The HollywoosReporter.com article goes on to talk about the sale of the channel, "The move comes four months after Lionsgate acquired the TV Guide Channel from Macrovision for $255 million. Two weeks ago, Lionsgate sold a 49% stake in the channel to JPMorgan Chase's One Equity Partners for $123 million."

"This is a shift in programming resources and priorities," a Lionsgate rep said. "We're reducing existing in-house made shows to spend more on acquiring new product."

Speaking of "acquiring new product," the TV Guide Channel recently bid on the off-network rights to HBO's hit dramedy, "Entourage." Unfortunately, Spike TV won those rights as well as the rights to reruns of MTV's "Punk'd."