TV Guide, after being sold to OpenGate Capital two years ago for $1, has been cutting its way back to some semblance of health, reports The New York Times.
After culling almost 40% of its subscriptions, mostly to customers who were paying little for the publication, and cutting about 30 employees out of its previous workforce of 100 people, the magazine now has its largest issue on newsstands since 2007, the article says. The publication’s Sept. 20 fall preview issue has 34 pages of ads, with 112 pages in total, including big advertisers such as CBS.
But the publication is still fighting to lure back advertisers, with its ad pages down 17% from 2009, the story says. “It was basically a patient getting last rites for a few years. And now I’d say it’s not quite an endangered species anymore," says Steve Cohn, editor in chief of the Media Industry Newsletter.