… comes news that the magazine returned to profitability in Q1 of this year after 15 consecutive quarters of posting losses. Meanwhile, "ad pages continue to grow by double digits almost three years later. In 2007, they rose 23% to 1,138, and in the first quarter of 2008 they grew 10.9% to 281." [MP]

Having just snapped up Gemstar-TV Guide for $2.8 billion, new owner Macrovision is, as expected, already looking for a buyer for TV Guide the magazine. [NYT] It was no big secret from the beginning that Macrovision was interested in Gemstar's technology, but not its print asset, or its television channels (the TV Guide Channel, and horse-racing station TVG). The new owner is, however, interested in keeping TVGuide.com, which in the digital era is viewed as a more substantial asset that the ink-and-paper brand, though hanging on to the magazine's domain name, we imagine, could be a sticking point for a sale.

Or not.

Very quickly, the magazine has done an about-face. This is interesting.

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Remember Debra Birnbaum, the editor of Life & Style who, as we were the first to tell you, was ousted by Bauer head Hubert Boehle in November '06, only to be replaced by Mark Pasetsky, who got himself the ax less than a year later?

In June of last year, she headed to TV Guide as the executive editor. TV Guide, if you're unfamiliar, is a magazine your mother used to keep on the coffee table so she knew what time her stories were on. Today, it's a magazine that's seen readership dwindle and is basically a commodity in the $2.3 billion sale of parent Gemstar to Macrovision, which only wanted Gemstar's video programming technology; the sale, of course, also saw top editors EIC Ian Birch, managing editor Lois Draegin, and exec ed Steve Sonsky leave the building.

Getting to the point: Now we're hearing rumors that Birnbaum is taking over as editor of the magazine. Mediaweek is hearing those same rumblings but notes "the title's long-term future is up in question," since Macrovision isn't expected to hold on to the magazine for very long. Which means Birnbaum assuming the top spot now could be trouble down the road. Or a brilliant career move. It's so hard to tell with these things!

Update: It's confirmed: Birnbaum is the new EIC.

Macrovision's $2.8 billion proposed buyout of TV Guide-Gemstar might be hitting some hurdles. Namely, the wannabe buyer's investors are questioning the future of the TV Guide's stock price and readership. As in, they might fall!

Like they've been doing.

Also, Macrovision has no experience in publishing, which is somehow supposed to be a hindrance. Not that Joe Mansueto let that little problem stop him from buying Inc. and Fast Company. Then again, Joe spent $35 million, not $2.8 billion. So, apples and oranges?

Breaking Macrovision, a California digital content distributer, is buying TVGuide for $2.8 billion. TV Guide is more than a weekly that online cable listings has made irrelevant, it also has web properties. Still, bubble much? [TVNewser]