Since earlier this year, the magazine has cut staff, trimmed its rate base 9.4 percent to 2.9 million from 3.2 million, and reduced its frequency to six fewer issues this year, for a total of 40. The magazine recently launched its website in beta at TVguidemagazine.com, with news and info on the TV shows, but will have a tough time competing with tons of other competition out there, and may be hurt by the confusion over TVGuide.com similarly named site.

The TVG TV network and the TVGuide.com network of sites was sold separately to Lionsgate earlier this year; the movie studio later brought in former bidder One Equity as a part owner.

According to OpenGate CEO Andrew Nikou, the PE firm “continues to expand into media, and as the company furthers its success with publications like TV Guide magazine, Jack’s guidance on media and expansion strategies will be a tremendous asset to us.” Reading between the lines, this likely means it will buy more troubled publishing assets. Hollywood Reporter, anyone? The entertainment trade has been hammered over the last year by layoffs and circulation declines, and rumors of print closure have been surfacing recently, though my sources say nothing is planned for the rest of this year at least. It could fit well with OpenGate’s philosophy of picking up distressed legacy properties, if Nielsen Business Media wants to sell it off separately.