If a grid guide is planned I wanted to offer a few suggestions with ideas taken from other apps...
The guide either needs to be transparent with background video or have a "PIP" area integrated into the guide.
Examples: Live Channels offers semi transparent full screen guide, the highlighted channel is always in the middle of the screen and has an extra space for show art and synopsis...
There is also a PIP concept video on youtube (LINK) that shows Live TV over a small potion of the guide. I would actually change this to resemble a traditional guide layout with the Live TV "box" on the upper right of the screen and the highlighted channel synopsis to the left of it, leaving the bottom 2/3 of the screen for the guide itself...
Concept:
Revised Layout:
Other UI elements from Live Channels that could work very well is the "Recent" menu (similar to the favorites pull down we have now) and the ability to narrow down the guide listings by categories...
