Gemstar-TV Guide reports second-quarter loss

Gemstar-TV Guide International Inc., the parent company of Television Games Network, lost $134.8 million, or 33 cents a share, in the second quarter of 2001, the company announced late Monday.

The losses stemmed from a $224 million charge the company took related to the merger of Gemstar and TV Guide last year. Excluding the charge, the company said it had earnings before interest, taxes, depreciation and amortization [EBITDA] of $108 million, or 24 cents a share.

The results for TVG were not detailed in the company's financial statements. TVG officials did not return phone calls on Tuesday.

TVG, which takes bets from residents of six states, is expected to lose money in 2001. The company lost $59 million last year.

TVG's results are included under the company's "media and services" division, which also includes the results from TV Guide magazine and the TV Guide channel. That division, according to the company's announcement, had revenues of $238 million and EBITDA of $63 million in the second quarter.