Vibe lives! The hip-hop magazine, founded by producer Quincy Jones, has been purchased by a group of investors for an undisclosed amount, reports the Wall Street Journal. The magazine folded suddenly in June due to a sharp drop in advertising; InterMedia Partners, a private equity fund, teamed up with other investors to buy up the assets. The group plans to relaunch the Web site immediately and publish the magazine quarterly, beginning in November or December.
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