via. HipHopUpdate.**OFFFF COURRRSE... Well... This sucks! Chip was supposed to be featured in Vibe.com 60 rappers in 60 days, but that doesn't look like its gonna happen! LoL... SMOKED! They made it to about 40-something and at the end of June it just stopped! Sooo... this all makes sense now!**
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.
A group led by the private-equity firm InterMedia Partners and InterMedia's luxury magazine publisher, Uptown Media, has reached an agreement to acquire Vibe and its Web site. The new owners say they plan to relaunch Vibe.com in the next few 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.
Wicks Group, a private-equity firm that bought Vibe in 2006, announced at the end of June it was closing the publication after it was unable to secure financing or restructure its significant debt. CapitalSource Bank foreclosed on Vibe's assets.
Vibe's new owners said they will distribute about 300,000 copies per print issue. Previously, Vibe had a guaranteed circulation of 600,000.
FULL STORY HERE
1 comment:
Whoa...thats messed up how they did Chip. The least they could do is finish what they started!
I saw that Vibe cover everywhere today as I was perusing looking for the latest issue of Complex (which I never found)
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