News of the Strange
The newest sponsor of NASCAR driver David Gilliland‘s No. 38 car is the FCC. The agency will sponsor the car for its 3 remaining Sprint Cup Series races as a part of its DTV outreach. The sponsorship debuts at Martinsville Sun. FCC chmn Kevin Martin said he thinks it an extremely effective way to raise awareness given NASCAR’s loyal following. We’re just hoping the chmn will don Gilliland’s M&M jacket for the next Commission meeting. — Guess how much Macrovision sold TV Guide Magazine for? One buck—less than half the price of 1 copy of the magazine. An SEC filing reveals OpenGate Capital shelled out $1 along with assuming liabilities. Macrovision also agreed to provide it with a $9.5bln loan. "With losses over $20mln in 2007 and further losses expected in 2008, all of this combined with significant deferred subscription and other operational liabilities, OpenGate is stepping in with the commitment to successfully complete the magazine’s turnaround, which targets restored profitability by the end of 2009, and to re-establishing TV Guide as the premier television entertainment magazine in the country," said Andrew Nikou, founder & managing partner of OpenGate Capital.
