Gemstar tries to boost value through TV Guide name. (Media & Technology).

Amid the recent turmoil at Gemstar-TV Guide International Inc., which has lost more than 90 percent of its market value in less than a year, steps are being taken to shore up its struggling namesake magazine.

In his first interview since being handed the reins of TV Guide last month, former Primedia Inc. executive John Loughlin said he will push to boost circulation and launch new publishing ventures that will exploit consumer faith in the TV Guide brand name.

Gemstar, which has been dogged by accounting problems and the loss of patent lawsuits in recent months, needs to get as much as possible out of the 49-year-old TV Guide -- once television's bible but now overshadowed by interactive cable listings services.

Last week, the company seemed to have resolved its nagging internal conflicts when founder Henry Yuen resigned as chief executive and Elsie Leung quit her post as chief financial officer. It was a victory for Rupert Murdoch and News Corp., which owns 43 percent of the company. Murdoch had been trying for months to oust the pain

Although most of Gemstar's problems are due to its accounting -- mainly recording revenue before actually receiving the money -- the company last month said it would record a $1.3 billion charge against earnings to account for TV Guide's reduced value.

New publications

Loughlin said he planned to shore up the magazine's value by using the famous name to expand into other publications and products.

The first publication, a magazine offering information and criticism about DVD and videocassette releases, will debut sometime next year, Loughlin said.

"It's a very natural place for us to employ our perspective as a definitive voice about what's worth watching and what's worth spending money on' said Loughlin, who was given the newly created title of president of TV Guide Publishing Group. "We've spent 50 years helping consumers negotiate their TV choices."

Loughlin also said TV Guide would develop new products and services out of its vast databank of films and television shows that has been collected during a half-century of providing news and listings. He said an initial book deal with Barnes & Noble was in the works.

Nothing is more pressing for Loughlin than resurrecting the sagging fortunes of TV Guide magazine, which has seen its circulation plummet over the past five years by 30 percent, to 9 million.

The national magazine faces an unusual challenge in that it must publish 125 regional editions throughout North America. But despite the logistical difficulties involved, TV Guide's ability to tailor content to specific geographic areas has been one of its main draws for advertisers.

In the future, Loughlin said TV Guide would try to make the regional issues more distinct. "It strengthens the connection between the reader and the magazine. It's about generating loyalty," he said.

Also planned are efforts to generate more revenue from a Web site that gets about 5.5 million hits a month, Loughlin said. "Right now, we offer any enormous amount of information gratis," he said. "We have to find someway to extract more value from the site."

One model TV Guide will explore is making certain portions of the site are available for a small fee. Magazine subscribers would receive free access.

Refocusing 

When former News Corp. executive Jeff Shell was hired in April as Gemstar's co-president and chief operating officer, he told Mediaweek magazine that TV Guide magazine "has been a bit neglected within the company for the past couple of years. But the good news is the brand is still very strong and the print side of the business is one of the key drivers'

"They do have a name -- it's a tired name but it's a name," said John Tinker, an analyst with Blaylock & Partners LP. "With the focus on interactive (program guides), no one was paying attention to the magazine."

Focusing heavily on its interactive guides and electronic businesses and their patents has not been a winning strategy. Gemstar suffered a huge blow in June when, after a lengthy battle, an International Trade Commission judge ruled that several competitors had not infringed on the company's patents. The verdict has been appealed.

Last month, Gemstar reported a preliminary second-quarter loss of $953.8 million, compared with a loss of $134.8 million for the like period a year ago.

Tinker noted, though, that investors would look more favorably now that Murdoch is assuming more control. The stock price, which was trading at $2.59 last week, rose 25 percent on the news of the resignations.