Vibe's print magazine and online sites have been bought by SpinMedia.
Vibe Magazine has been a source for hip-hop lovers since its inception 21 years ago. However, Vibe may no longer be in magazine-form much longer. It was announced today that Vibe has been sold to SpinMedia, and may become solely an online source.
New York Times reports that SpinMedia announced today that they have bought the rights to Vibe’s print magazine along with the related websites, Vibe.com and Vibevixen.com, from Vibe Media. No price was disclosed.
SpinMedia's chief executive, Steve Hansen, had only kind words to say about Vibe, and the addition to their roster. Hansen called Vibe "an industry leader in the urban and hip-hop category for decades." He added, "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, represents a list of over 40 sites that are designed for culture-obsessed youth, such as Celebuzz, Idolator and JustJared.
Hansen says they will probably shut down Vibe's print magazine later this year. "We are still trying to find a print model that makes economic sense in the digital age," he said.