( CNN ) -- Vibe magazine founder Quincy Jones may attempt to buy back the now-shuttered hip-hop magazine , according to a published report . Quincy Jones speaks onstage at the Apollo Theater 75th Anniversary Gala in June . `` I 'm trying to buy my magazine back now , '' Jones told EbonyJet.com on Tuesday , according to an article posted on the Web site . Vibe , one of the best-selling hip-hop magazines in the country , shut down on Tuesday . Its chief executive officer , Steve Aaron , said the magazine has a debt of `` several millions of dollars '' and also faced a declining market and decreased advertising revenue . Jones , a music producer , said he envisioned an online-only future for Vibe , EbonyJet.com reported . `` They just messed my magazine all up , but I 'm gon na get it back , '' he said , EbonyJet.com reported . Additional details were not available in the report , and Arnold Robinson , a spokesman for Jones , told CNN he had no comment . Jones established the magazine in 1993 . It had a circulation of about 600,000 , according to Aaron . The closure eliminates jobs for all 48 staff members , Aaron said . The issue currently on newsstands , featuring Eminem on the cover , is Vibe 's last .
Vibe , one of the best-selling hip-hop magazines , shut down on Tuesday . The magazine was founded in 1994 by a group of young black men who wanted to create an alternative publication that would be more accessible and less racist than other publications like Essence or Rolling Stone. Vibe 's closure eliminates jobs for all 48 staff members .