VIBE To Relaunch Under New Owners

A group led by the private equity firm InterMedia Partners and its luxury magazine publisher, Uptown Media, has reached an agreement to acquire Vibe and its Web site. The new owners say they plan to re-launch Vibe.com in the next couple of weeks.

The new owners intend to bring out the print edition only at the end of the year and then publish it quarterly rather than monthly, possibly increasing the frequency after 2010. Informatio about the transaction's financial terms have not been made public.