Neither company has disclosed terms of the deal. However, NTVB Media CEO, Andy DeAngelis, states in a release that the deal enables the company to “offer advertisers a highly effective way to reach all segments of the TV viewing audience. Together, the properties will be extremely effective in helping programmers gain audience.”
With this acquisition, NTVB has nearly tripled its audience. The magazines will now have a combined circulation of 2.8 million (TV Guide 1.8 million, TV Weekly 1 million), and rolled up with websites, the company says it will reach 20 million readers.
TV Guide was once a staple in many American homes, with a circulation that topped out around 20 million in the 1970s. Its success and influence led to a record-breaking sale in 1988 for $3 billion to News Corp. But times changed soon after and digital television—among other things like the Internet—proved to be major disruptions to the brand and its business model.
It was sold again in 1998 to Gemstar and the magazine shifted away from TV listings to include more TV-centric feature content. Over the next ten years TV Guide’s audience continued to erode and the brand piled on debt until it was sold to OpenGate for $1 in 2008. OpenGate purports that the brand has been profitable since 2009.
The company also says that ad sales have stabilized and increased year-over-year. This year’s “Fall Preview” issue sold 67 percent more ad pages versus 2014. But to put things into context, that’s 78 percent fewer ad pages than it ran in the 1990 “Fall Preview.”
TV Guide’s CEO and CFO, David Fishman and Joe Clemente, will remain with the company. "We are thrilled to join the NTVB family," Fishman says in a release. “We think about the market the same way and share the same DNA.”
[This story originally appeared on Folio: sister site minonline.]