US based R&B and hip hop magazine VIBE, which I think was owned by Quincy Jones, has just been bought by New York based private equity firm Wicks Group. Former editor Danyel Smith will take over as Editor-In-Chief under the new owners, while one Eric Gertler will take over as CEO. One of the new owners' aims is to further extend the VIBE brand into different spin offs.
Gertler: "The power of VIBE is its appeal to the diverse, trendsetting young style makers who enjoy and are passionate about urban music, fashion and culture. We think there are tremendous growth and value-creation opportunities to leverage the brand across multiple media platforms and we are excited to build upon the great relationship that VIBE has with its community."