Following the $15 billion purchase of TV Guide by Gemstar, Henry Yuen and Rupert
Murdoch, who had been fierce rivals, were the new company’s largest and
most influential stockholders. Yuen was also the company’s chief executive officer
(CEO) and chairman of the board of directors. Gemstar’s former stockholders, led
by Yuen, controlled 55 percent of the company’s common stock, while TV Guide’s
former stockholders, led by Murdoch, controlled the remainder. To take advantage
of TV Guide’s brand name, Yuen decided that the newly-formed company would be
named Gemstar-TV Guide International, Inc. (GTGI).