Will Quincy Jones Buy Vibe Magazine Back ?

Quincy Jones, founder of the original Vibe Magazine, may end up buying the assets of the now defunct business.

A noted music industry veteran and producer, Jones founded the magazine in 1992 and turned it over to new owners in 2006.

Tuesday, June 30, Vibe closed its doors due to financial troubles. Former Editor in Chief, Danyel Smith issued the following statement that afternoon:

"It is with great sadness, and with heads held high, that we leave the building today," wrote Smith.

"We were assigning and editing a Michael Jackson tribute issue when we got the news. It's a tragic week overall, but as the doors of the Vibe Media Group close, on the eve of the magazine's 16th anniversary, it's a sad day for music, for hip hop in particular, and for the millions of readers and users who have loved and continue to love the Vibe brand."

Hours later sources claim Jones told Ebony/Jet that he hopes to buy the magazine back and release it online.

"They just messed my magazine all up, but I’m going to get it back. You better believe it. I'm (going to) take it online because print and all that stuff is over," Jones reportedly told EbonyJet.

News of Vibe's closure Tuesday made headlines and leaves just a handful of Hip Hop/Lifestyle magazines including XXL and The Source. It also follows the closure of Blender, Conde Nast's Portfolio and Radio & Records.

Vibe's last issue features The-Dream and Christina Milian. Quote this article on your site