Finance & Business

“One of the world’s leading journals of arts and culture” was sold to a mysterious media company

The University of Nevada at Las Vegas sold one of the world-leading journals of art to a company registered in Puerto Rico. Right after the company owned the art magazine and its website, they posted on The Believer’s website a list of “25 Best Hook-up sites” for “no strings attached sex.”

Founded by the writers Heidi Julavits, Vendela Vida, and Ed Park in 2003, The Believer was a five-time finalist for the National Magazine Award, with contributors ranging from literary luminaries such as Hilton Als, Anne Carson, Nick Hornby, Susan Straight, and William T.
It didn’t matter for the new owner, as for them, Paradise Media had completely other plans with the magazine.

Why would UNLV hand over the reins of The Believer to such an outfit?
The answer is evident, of course, money!

UNLV announced the last October that they were about to shut down the magazine because it was a big consumer of the resources of the university’s Black Mountain’s Institute, a literary center whose mission is to “bring writers — and the literary imagination — into the heart of public life.
According to documents provided to The Chronicle by the university in response to a public-records request, Paradise Media paid $225,000 for the magazine.
The Believer’s founders were not surprised at all when they found out that the literary nonfiction journal they created and ran for nearly two decades was now a vehicle for posting reviews of hook-up sites.

When The Chronicle talked with Ian Moe, the chief executive of Paradise Media, about the purchase, he said he had been a “big fan” of The Believer when he was in college. He heard it was being shut down, and he sent the university an email. “They said they would hear my offer and were open to selling it, and that’s it,” he wrote. “I explained my idea to add articles that answer specific questions for searchers.”

More about this mysterious company that bought The Believer in the following link:
https://www.chronicle.com/article/unlv-sold-a-beloved-literary-magazine-to-a-mysterious-media-company-why

Finance & Business

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Finance & Business

BCAMS Magazine, the 27th issue

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