This is indeed the second officially licensed PlayStation Magazine that sunk but they weren't the same magazine. Ziff Davis ran Official U.S. PlayStation Magazine from 1997 to 2007. When that magazine ended Future's unofficial PlayStation Magazine (PSM) became PlayStation: The Official Magazine.
Wonder if Imagine will take over if they publish in the US? They have quite a few games magazines here in the UK (including the previously mentioned Retro Gamer).