( 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 . Founder , music producer Quincy Jones says he envisions an online future for Vibe . Vibe 's closure eliminates jobs for all 48 staff members .