Yesterday (June 29th), rumors spread that the award winning magazine was sold to an unidentified party. Some speculated that it had been purchased by the owner of Black Book Publishing.

Meanwhile, industry insiders are believe that former Editor-In-Chief Danyel Smith may take over the Editor-In-Chief position and that a significant amount of staffers may be terminated. A Vibe spokesperson denied that the mag had been sold, but confirmed that it had been up for sale for some time.

In related news, Marc Ecko is reportedly looking into buying The Source Magazine. The self-proclaimed "hip-hop bible" has been on the auction block for months. Several auctions were slated to take place a few months, but were postponed.