*It’s official, Vibe magazine in print is a wrap. The publication was bought by SpinMedia, a group of music and pop culture websites, which means Vibe could be available online only.
The sale included Vibe.com and Vibevixen.com, but the price was not disclosed.
The sale reunites the two publications, which more than a decade ago were part of the same company, Vibe/Spin Ventures, before each went through a series of sales, says the New York Times.
Calling Vibe “an industry leader in the urban and hip-hop category for decades,” Steve Hansen, SpinMedia’s chief executive, added in an interview: “It’s really exciting to add this to SpinMedia’s collection of music properties and bring more digital DNA to the team and see what they can do.”
SpinMedia, formerly known as Buzz Media, bought Spin magazine last summer and as a result, shut down the print arm and laid off a third of its staff.
With the purchase of Vibe, the company also shut down the print magazine.
“We are still trying to find a print model that makes economic sense in the digital age,” he said.
Vibe was created by Quincey Jones and Time Warner in 1992. It abruptly shut down in 2009 amid financial failure, but within months was revived after being purchased by private equity investors.