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Gemstar, Barnes & Noble Talks Reported

November 22, 2000|Bloomberg News

Gemstar-TV Guide International Inc. has held talks with Barnes & Noble Inc. about merging their businesses, the Wall Street Journal reported, citing unidentified people familiar with the matter. Pasadena-based Gemstar, the owner of TV Guide and the developer of VCR Plus recording technology, has begun promoting electronic books and is interested in combining with the biggest U.S. bookseller to ensure a steady supply of material from publishers, the paper said. Barnes & Noble, which owns a small stake in Gemstar, is talking to Gemstar about how to "exploit the potential of [the e-book] platform," said Barnes & Noble spokeswoman Mary Ellen Keating. "As for a merger between the two companies, this is not something we are contemplating at all." Gemstar officials declined to comment. Gemstar shares fell $6.19, or 12%, to close at $44.69 on Nasdaq; New York-based Barnes & Noble rose 88 cents to close at $28.13 on the New York Stock Exchange.

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