When a prominent 55-year-old magazine is sold, in its entirety, for less than the price of a single issue, does it have a chance at survival?
On April 3, 1953, TV Guide landed on newsstands, with a cover photograph of Desi Arnaz and Lucille Ball's baby boy, Desi IV. It soon became a fixture of American culture.
In 1988, TV Guide was sold to Rupert Murdoch's News Corporation for about $3 billion. In 2000, it was sold for $9.2 billion. Last week, TV Guide once again changed hands. This time, the selling price was one dollar.