Gemstar, Barnes & Noble: Merger Rumors Untrue
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Gemstar-TV Guide International Inc. and Barnes & Noble Inc. Wednesday united to say they have no current plans for a merger, acquisition or business combination.
Rumors about an acquisition began last week when the Wall Street Journal reported that the two companies had held preliminary talks about combining their businesses.
The WSJ article indicated that a union would assure Barnes & Noble of a steady supply of e-book material. Gemstar, which develops proprietary technologies and systems that simplify interaction with electronics products, is regarded as a potential leader in the e-book industry.
"We will continue to pursue the many exciting opportunities in eBooks," noted Henry Yuen, chairman and CEO, Gemstar-TV Guide International Inc. "We will be focused on establishing a win-win strategic alliance with Barnes & Noble, one of the most important content sellers in the United States."
Leonard Riggio, chairman of Barnes & Noble Inc., said, "We look forward to working with Gemstar on other possible business and marketing alliances, particularly in the eBook sector."
In related news, Gemstar and ICTV, a supplier of browsers available to digital set tops, announced they have completed an integration agreement. The resulting solution allows simple switching between TV Guide Interactive to various ICTV applications.