Two month after Vibe magazine closed its doors due to financial difficulties the publication is coming back to life with the help of InterMedia a private equity firm that publishes Uptown magazine.
On Wednesday, August 12, David Koff, a Senior Partner at InterMedia said, “Vibe is the preeminent brand in R&B and hip-hop. We feel privileged to purchase and resurrect such a storied brand.” He also added, “Together with the relaunch of Soul Train this fall and the rapid expansion of Uptown Magazine, a reinvigorated Vibe enables us to serve a broad spectrum of the African American audience with high quality entertainment and information.”
Terms of the deal were not disclosed.
On Vibe.com a sign declared “Vibe Under New Management: Updates Coming Soon.”
As for the new publication it will focus on developing the Lifestyle Network of both the website and Uptown Media Network as well as the print medium of both Uptown and Vibe magazines. The print edition of Vibe will be back at the end of the year and in 2010 the magazine will be produce quarterly. It will have a circulation base of 300,000 instead of 600,000.
As previously reported by Trace, Vibe was co-founded nearly two decade ago by Quincy Jones as a feature for Hip/Hop, R&B, lifestyle and urban youth culture.
Written by Valerie V