The news brings to an end Northern & Shell-owner Richard Desmond's aim to shake up the TV listings market by launching the first major title in the sector since 2005.
The magazine planned to challenge the market leader, H Bauer's TV Choice, which is the UK's best-selling paid-for magazine, and recorded an average weekly circulation of 1.23 million in the last six months of 2012.
Desmond initiated a price war by bringing the title to market with a launch price of 40p, 5p lower than TV Choice.
TV Choice responded by cutting its price to 38p. In retaliation, the second issue of TV Pick had a slashed price of 20p, a figure then matched by TV Choice.
A spokeswoman for Northern & Shell confirmed the closure, but declined to comment further.
The magazine was on sale at more 50,000 retailers.