VIBE Magazine Solded to Private Equity Firm

The Wicks Group of Companies, L.L.C., a New York-based private equity firm, has aquired VIBE, the magazine started by Quincy Jones and former Time Inc. President Robert Miller in 1993.

As measured by circulation, VIBE is the leading urban entertainment magazine covering urban music and lifestyle. With circulation of approximately 850,000, the magazine alone reaches more than seven million readers per month.

Danyel Smith has been named editor-in-chief of the magazine. A former editor-at-large for Time Inc., Smith joined VIBE in 1993 and was appointed music editor a year later. In 1996, she was awarded a National Arts Journalism Program fellowship and was appointed editor-in-chief upon her return, serving until 1999.

"I have always been a strong supporter and believer in the VIBE brand, and I am thrilled to rejoin as editor-in-chief," said Smith. "I look forward to strengthening our editorial traditions and our overall music, fashion, culture and style coverage on behalf of VIBE readers."

Daniel Black, partner of the Wicks Group said, "We are very excited about this acquisition and the talent that we have assembled to help the business reach its potential. As the leading brand in the urban market, 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. Combined with the talent and skills of our new management team, we think VIBE is well-positioned to become a leading media company with multiple revenue and growth opportunities."

VIBE's current brand extension platforms include VIBE Vixen, a magazine for trend-setting women whose love for urban music and culture inspires their choices in beauty, fashion, and lifestyle; VIBE Online, the online site for VIBE Magazine; VIBE On Demand, a leading on-demand network for urban youth culture; VIBE on film; MVibe, the wireless service that allows the VIBE community to interact with VIBE content via handheld devices. The VIBE brand extends into additional product and distribution channels, such as the VIBE CD and DVD series and television programming.

The Wicks Group of Companies, L.L.C. is a New York based private equity firm that invests in selected segments of the communications, information and media industries. Wicks currently owns or has owned companies in educational publishing, consumer publishing, community newspapers, radio broadcasting, television broadcasting, magazine publishing, outdoor advertising, newsletter publishing, and cable television distribution.