The last line is "The album and the film are both due in August", the movie came out on August first 1990. I doubt that would be a December 1989 estimation or preview then. The fact that it's "August", not "next August" puts this no earlier than September 1989 too (and even then, that'd be a weird ass thing to say; IMO this puts it pretty much in no earlier than January 1990).

The pic of Prince matches neither his 1989 album (Batman; spiky hair) nor his 1990 album haircut (Graffiti Bridge, longer hair), but that might be an archive pic. He had albums out in both years.