Barely six months after being named CEO of TV Guide Magazine, veteran media exec Jack Kliger has resigned. In an internal memo obtained by Adweek, TV Guide parent OpenGate Capital said that “as part of a planned transition,” the magazine’s COO David Fishman had been promoted to CEO, while Kliger would be stepping down “to focus on media investment opportunities,” effective immediately.
“Having worked closely with David over the past five years, we feel strongly that he is the ideal person to lead TV Guide Magazine as it enters its next chapter and continues to evolve to serve the ever-changing needs of television enthusiasts and the advertisers seeking to reach them,” the memo read. “We want to thank Jack for his exceptional work that has helped to uncover and generate value in this storied brand, including returning it to consistent profitability.”
OpenGate purchased the then-struggling TV Guide Magazine in 2008 for $1, and the following year, brought in Kliger, the former CEO of Hachette Filipacchi Media U.S. and evp of Condé Nast Publications, to help turn things around. The plan was a success: By 2010, TV Guide had returned to profitability, and in 2013, Kliger’s title of acting CEO was formally changed to CEO.
According to the OpenGate memo, Kliger will maintain a role at the magazine during the transition period and will also serve as an advisor to OpenGate on “selected investments” in the future.
New CEO Fishman joined TV Guide in 2009 as a senior advisor for brand and business development. Last year, he was promoted to COO and became a partner in OpenGate Media Group.
OpenGate has not yet responded to Adweek's request for comments.