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Defunct Believer magazine sold off to digital marketing company

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The Believer, a literary powerhouse that recently became a troubled university property, was sold by UNLV to Paradise Media for $225,000 in cash.

Months after the departure of director Joshua Wolf Shenk, UNLV’s institute announced on Tuesday it will stop producing the Believer next spring.assets,” it continued. “Paradise Media offered $225,000, with UNLV covering financial liability for unfilled subscriptions. McSweeney’s asked that the assets be granted to them for free and for UNLV to also cover the financial liability of any unfulfilled subscriptions at an overall net loss to the university.”The sale was effective Dec.

A group called the Sex Toy Collective, which is owned by Paradise Media, responded in a tweet that has since been deleted: “Hi, this is the new owner of the Believer. We purchased the website to keep the archives up. Our goal is to bring back the magazine, but since it was losing tens of thousands a month we need to get it making money using SEO then use that to bring back all the original writers.

 

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