(AllHipHop News) The internet has revolutionized human interaction, helped reveal a universal love of cat videos but most dauntingly has begun replacing print media. Today is another landmark day in this current cultural shift as Hip Hop/R&B landmark magazine, Vibe Magazine has been sold to media group SpinMedia.
The rights to the 21 year old magazine's print outlet, Vibe.com and Vibevixen.com were sold to SpinMedia by Vibe Media. SpinMedia's chief executive Steve Hansen expressed his zeal over the acquisition and promised to foster Vibe Magazine's online presence:
“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 acquiring Vibe Magazine and its concomitant websites could mean the end for the legendary print source if history repeats itself. SpinMedia purchased Spin Magazine in the summer of 2012 shut down its print publication and laid off a third of the staff. “We are still trying to find a print model that makes economic sense in the digital age,” according to Hansen.
Founded in 1992 by Quincy Jones and Time Warner, Vibe Magazine was abruptly shut down due to the depletion of ad revenue but was brought back months later by private equity investors.