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The Believer magazine is now owned by a marketing company

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After the College of Nevada, Las Vegas introduced final fall it could stop publishing the Believer, the venerable literary journal now has a brand new proprietor.

The journal, which for almost twenty years revealed acclaimed fiction and essays below the McSweeney’s banner earlier than being bought to UNLV’s Black Mountain Institute 5 years in the past, is now the property of Paradise Media, a digital advertising and marketing firm headquartered in Puerto Rico. Paradise purchased the journal for $225,000 in money, in line with a enterprise buy letter of intent launched after a public data request. Vice’s tech vertical, Motherboard, was the first to report the story.

Paradise took over possession and oversight of all content material on April 1; the switch is predicted to be finalized this month. The Believer’s final situation below the Black Mountain Institute, No. 139, was revealed in March.

The acquisition comes after UNLV abruptly introduced in October that it could stop producing the Believer, citing a “strategic realignment inside the school and [Black Mountain Institute] because it emerges from the monetary influence of the COVID-19 pandemic.”

The information adopted a collection of allegations in opposition to the journal’s former editor-in-chief, Joshua Wolf Shenk, within the months after he uncovered himself to employees throughout a video assembly final yr. He resigned in March 2020. A Instances investigation into allegations of sexual harassment and a poisonous work setting found complaints about Shenk’s management even earlier than his arrival at Black Mountain in 2015. It additionally confirmed that Shenk was the topic of not less than one Title IX grievance at UNLV.

The general public data launched by UNLV additionally included McSweeney‘s provide letter to reacquire the journal, which was based in 2003 and bought by the Beverly Rogers, Carol C. Harter Black Mountain Institute, BMI’s official identify, in 2017.

The letter, signed by McSweeney’s president Brian Cube and dated Jan. 5, 2022, supplied to create one paid tutorial yr internship and two full-time paid summer season internships for UNLV‘s artistic writing program college students; prepare for visits from McSweeney’s-affiliated employees, poets and writers to UNLV; and take into account submissions from college college students to the Believer and McSweeney’s quarterly. Cube additionally requested UNLV to cowl the monetary legal responsibility of unfulfilled Believer subscriptions.

The letter doesn’t embody a monetary bid.

In a press release to The Instances, UNLV mentioned it “fastidiously thought-about its choices. The sale of the publication’s belongings was the results of a bid course of and, following a evaluation, one of the best monetary resolution was made for BMI and its persevering with mission.”

“UNLV acquired two presents to accumulate The Believer belongings,” it continued. “Paradise Media supplied $225,000, with UNLV overlaying monetary legal responsibility for unfilled subscriptions. McSweeney’s requested that the belongings be granted to them without cost and for UNLV to additionally cowl the monetary legal responsibility of any unfulfilled subscriptions at an general internet loss to the college.”

Cube didn’t instantly reply to a request for remark.

The sale was efficient Dec. 23, 2021, and signed in early February by Ian Moe, Paradise Media’s CEO; Jennifer Keene, dean of UNLV’s Faculty of Liberal Arts; and Chris Heavey, the college’s provost and govt vice chairman.

As first reported by Gawker earlier this week, a former Believer employees member raised issues on Twitter over a clickbait article titled “25 Finest Hookup Websites for Flings, New Trysts, and Informal Courting” on the journal’s web site. The piece has since been eliminated.

A bunch known as the Intercourse Toy Collective, which is owned by Paradise Media, responded in a tweet that has since been deleted: “Hello, that is the brand new proprietor of the Believer. We bought the web site to maintain the archives up. Our purpose is to deliver again the journal, however because it was shedding tens of 1000’s a month we have to get it making a living utilizing website positioning then use that to deliver again all the unique writers.”