Karlie Kloss, model, investor, and entrepreneur, is buying the British fashion and culture publication i-D Magazine.
Financial terms of the deal were not disclosed. If the deal closes, Cross will become CEO of i-D magazine and current editor-in-chief Alastair McKimm will become the role of chief creative officer and global editor-in-chief. The sale was made through Bedford Media, a newly formed company in which Cross also serves as chairman.
According to a statement from her representative, Kloss “has a deep passion for technology and the intersection of fashion, media, and culture and how we can create interconnectivity between the digital and physical worlds.”
This is not the first time Kloss has acquired media; at the end of 2020, she led a group of investors to acquire “W Magazine” and signed an agreement with Bustle Digital Group to be its publisher.
Since 2015, she has also been working to train the next generation of female IT engineers and founded KODE WITH KLOSSY, an organization where girls aged 13-18 can learn coding for free. In addition, she has shown her multifaceted activities as an investor and businesswoman, including philanthropic activities and investments in startup companies.
i-D Magazine, which Cross is acquiring, is a fashion and culture publication founded in 1980 by designer and former “Vogue” art director Terry Jones. It gained a cult following for its edgy images of London’s punk and rock heyday, unique fusion of fashion and culture, and insight into emerging culture.
For the past 10 years, i-D Magazine has been part of the Vice Media Group, but in May of this year, that parent company went out of business and filed for Chapter 11 bankruptcy. Then in June, Vice Media was acquired for $350 million by a consortium of investors led by Fortress Investment Group, Soros Fund Management, and Soros Fund Management.