Gemstar Says Deal Still On

Gemstar International Group Ltd. denied speculation that the software maker’s $9.2-billion acquisition of TV Guide Inc. could be canceled. Chief Executive Henry Yuen said the company plans to complete the purchase, announced last October, before July. An Internet site that specializes in market speculation reported rumors the takeover had been scrapped. “We have no indication of any trouble,” said Yuen, also the company’s chairman, president and second-largest shareholder. “There is no truth” to the speculation. TV Guide President Peter C. Boylan also said the transaction should be completed as scheduled. Shares of Pasadena-based Gemstar fell $8.50, or 15%, to $47 on Nasdaq. Tulsa, Okla.-based TV Guide lost $5.88, or 17%, to close at $29.38 on Nasdaq.