Just when you thought it was dead, Vibe, like a Vampire, has risen from the grave with the help of Uptown Media.
From the Wall Street Journal:
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.