And they’re talking about a return to roots? Hmmm. Link
“Vibe, the hip-hop magazine that folded six weeks ago under a pile of debt, is being resurrected with a new spin — as a Web-focused publication with a greater emphasis on Vibe’s roots,” as Russell Adams reported Tuesday for the Wall Street Journal.
“A group led by the private equity firm InterMedia Partners and its luxury magazine publisher, Uptown Media, has reached an agreement to acquire Vibe and its Web site. The new owners say they plan to re-launch Vibe.com in the next couple of weeks.
“They intend to bring out the print edition only at the end of the year and then publish it quarterly rather than monthly, possibly increasing the frequency after 2010. They declined to disclose the transaction’s financial terms.
“The acquisition allows InterMedia to capture more of the African-American market for advertisers, said David Koff, a senior partner at the firm, founded by Leo Hindery. In addition to Uptown, Intermedia owns ‘Soul Train,’ the long-running music and dance television program, which Intermedia plans to relaunch in the fall. Mr. Koff said the Vibe deal fills a youth gap for the new owners.”
Koff, who said the firm gave the story first to the Journal, referred questions to a public relations representative, who said it was too early to say who would be on the editorial team. However, she said Brett Wright, chief creative officer, Uptown Media Group. would also be creative director of Vibe. Vibe’s last editor was Danyel Smith.
via Kwan Booth
