In June 2009 Vibe Magazine shut down operations due to its inability to restructure its debt or obtain a buyer.
It has been reported that InterMedia Partners and Uptown Media will acquire Vibe Magazine and it’s website, and will relaunch within the next several weeks. Financial details of the agreement have not been made public.
Founded in 1992 by Quincy Jones, Vibe and its website catered to the hip-hop music genre. Under the new ownership it will broaden its audience beyond hip-hop, and include informative articles on nearly all styles of the music scene.
Instead of the previous monthly issues, Vibe will now publish quarterly editions cutting circulation from 600,000 copies a month previously to 300,000 copies per quarter.
In the first half of 2009, Vibe Magazine advertisement revenues fell nearly 40 per cent.