Gemstar-TV Guide Names New Co-President

Gemstar-TV Guide International Inc. named a key executive from its largest shareholder as it tries to counter a wave of bad news that has cut its stock price in half.

Gemstar, a maker of television program guides, named Jeff Shell co-president and chief operating officer. Shell previously served as president and chief executive of News Corp.’s Fox Cable Networks Group. News Corp. holds a 42.6% stake in Gemstar.

Shell’s appointment comes less than a month after Peter Boylan resigned as Gemstar co-president and the company’s stock started its slide from the low $20s to less than $10. In the first quarter of 2000 the stock peaked at over $90 a share.

The news helped send shares of Pasadena-based Gemstar up 57 cents to $11.11 on Nasdaq.