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Lifestyle, Music ‘Giant’ Snapped up by Radio One

Radio One is establishing a presence in the print media world with its acquisition of Giant Magazine.

The company purchased Giant for $270,000 - “a limited amount of capital,” according to CEO Alfred Liggins - writes the Washington Business Journal. The magazine was launched in 2004 as an entertainment magazine for men in their twenties, but was relaunched last year as a lifestyle and music magazine.

Targeting urban readers, recent covers have included Beyonce, Janet Jackson and Sean Combs. New editor in charge of the relaunch, Smokey Fontaine, will become chief executive and will also have an undisclosed financial stake in the publication.

As the largest radio broadcasting company primarily targeting African Americans and urban listeners, the acquisition should allow the company to leverage its other media assets to increase the likelihood of success in what Liggins calls “unquestionably a challenging, but important, business.”