Moody's rates Macrovision Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to Macrovision Solutions Corp. pending its acquisition of Gemstar-TV Guide International, Inc.

The $2.8 billion acquisition is being financed with stock, a senior secured $500 million term loan, $150 million in senior unsecured notes as well as cash on hand at both companies, the agency said, adding that the transaction is expected to close in May.

The Ba3 rating is driven by the combined companies' portfolio of intellectual property and patents spanning copy protection and interactive program guides, Moody's added.

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