VIBE magazine, “the voice and soul of urban music and culture” as described by its founder Quincy Jones, has officially undergone a change of ownership.
The magazine was acquired by The Wicks Group of Companies L.L.C. - a private equity firm located in New York.
It was also announced that Danyel Smith, the previous music editor for VIBE magazine, will take over the position of Editor-in-chief.
"I have always been a strong supporter and believer in the VIBE brand, and I am thrilled to rejoin as editor-in-chief," Smith said. "I look forward to strengthening our editorial traditions and our overall music, fashion, culture and style coverage on behalf of VIBE readers," said the new front-man who has worked at the magazine for a decade plus.
It is estimated that VIBE has a monthly readership of over seven million. Although the magazine focuses on American culture, it is distributed internationally.
Over the years the VIBE empire has gradually been expanding into the fields covered within its own pages such as CD, DVD and television production. This change of ownership marks the start of further diversification into these areas.
Eric Gertler, the new CEO of VIBE said "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."
Daniel Black from the Wicks Group also added that “VIBE has all of the hallmarks of an outstanding media property, and this transaction creates a strong platform from which to address its growth potential.”
The magazine was acquired by The Wicks Group of Companies L.L.C. - a private equity firm located in New York.
It was also announced that Danyel Smith, the previous music editor for VIBE magazine, will take over the position of Editor-in-chief.
"I have always been a strong supporter and believer in the VIBE brand, and I am thrilled to rejoin as editor-in-chief," Smith said. "I look forward to strengthening our editorial traditions and our overall music, fashion, culture and style coverage on behalf of VIBE readers," said the new front-man who has worked at the magazine for a decade plus.
It is estimated that VIBE has a monthly readership of over seven million. Although the magazine focuses on American culture, it is distributed internationally.
Over the years the VIBE empire has gradually been expanding into the fields covered within its own pages such as CD, DVD and television production. This change of ownership marks the start of further diversification into these areas.
Eric Gertler, the new CEO of VIBE said "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."
Daniel Black from the Wicks Group also added that “VIBE has all of the hallmarks of an outstanding media property, and this transaction creates a strong platform from which to address its growth potential.”
