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TV Guide sold for a less than its cover price

Gone for a buck!

As the ailing media industry takes more hits, the magazine TV Guide has been sold for $1 to the private equity fund OpenGate Capital. The buyer also agreed to assume the unprofitable magazine’s liabilities. The magazine’s cover price, by comparison, is $2.99. TV Guide has 3 million subscribers.

TV Guide

Tom GrossTom Gross is a former Middle East correspondent for the London Sunday Telegraph and the New York Daily News.

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