Gemstar to Launch Weekly Celebrity Magazine

Gemstar-TV Guide International Inc., the publisher of TV Guide magazine, said Wednesday that it would introduce a weekly magazine focusing on television stars.

Inside TV, aimed at young women, will carry news on television celebrities, style tips and program information, editor Steve LeGrice said.

Inside TV will begin newsstand sales in the second quarter. Reaching a circulation of 1 million within a year or so “would be nice,” LeGrice said.

TV Guide, with sales of 9 million a week, according to the Audit Bureau of Circulation, has been losing subscribers, advertisers and newsstand sales amid competition with celebrity magazines such as People, Us Weekly and In Touch Weekly. Hollywood-based Gemstar hasn’t reported an annual profit in five years.

LeGrice, 52, who was executive editor of American Media Inc.’s Star magazine for 10 years, helped create In Touch in 2002. He will report to TV Guide Editor in Chief Ian Birch, the company said.

Shares of Gemstar fell 12 cents to $5.59 on Nasdaq. The stock has gained 11% in the last 12 months.

LeGrice said he was hired about six months ago by Gemstar’s former chief executive, Jeff Shell, who was seeking new publications to target groups such as young women, young men and Latinos. Shell was replaced by Rich Battista in December.

LeGrice declined to say how much Gemstar spent on the new magazine. Asked whether the company was considering creating other titles, LeGrice said Gemstar was focused for now on Inside TV.

Revenue from Gemstar’s publishing segment declined 11% to $90.6 million in the third quarter, the company reported Nov. 9.

Rupert Murdoch’s News Corp. owns a controlling stake in Gemstar, with 41% of the shares, according to Bloomberg data. Gemstar also sells software that cable TV companies use to provide on-screen programming guides.

Battista was previously executive vice president of business development and strategy at News Corp.’s Fox Entertainment Group Inc.