THE LEGENDARY HX MAGAZINE HAS BEEN SOLD

Word on the street is that that HX, the little gay rag that has been pumping up go-go boys and queer parties in New York City since 1991, was folding. Well, that's not entirely true. Turns out that it's being sold. Owner/founder Matthew Bank, released this statement:

"HX Magazine and the web site hx.com have been sold. The new owners of HX Magazine will be releasing details and information on their plans for the future of the title shortly. In the meantime, Bank and HX Magazine Publisher Gary Lacinski will be assisting them in the transition. HX Magazine issue 931 dated July 10th, which will be released on July 3rd, will be the last one produced by HX Media and its staff.

"We've had an incredible time creating what we feel is the best local gay magazine the world has ever seen," says Bank, "and I am proud that even in this difficult economy we were able to ensure that this magazine that is dear to the hearts of so many readers will be able to continue under capable new ownership."

The terms of the transaction remain confidential.

HX Media, LLC still owns and operates The New York Blade newspaper and its Expo division, which produces the HX Gay & Lesbian Travel Expos, HX Gay Life Expo, and HX Gay Erotic Expo. These businesses were not part of the sale"

Bank is a bit of a media success story. He started HX from nothing: simply photocopying and stapling bar listings and passing it out for free. He built it up to a multi-million-dollar business. He later partnered with David Unger, CEO of Avalon Equities, which also published New York Blade and Genre magazine (full disclosure: Unger owned New York Press until it was sold to Manhattan Media in Aug. 2007). These other gay mags and publications have fallen on hard times.

Genre suspended operations earlier this year (soon after bisexual editor Neil Boulton fled to his land of bizarre polyamory dreams). Guess the gays are finding out where to party on Facebook and Manhunt, they don't need to pick up a glossy mag these days. The gay media folk have seen their adbase shrink since all the sex and parties can be found elsewhere and haven't been able to figure out a good web-based media model (despite the earnest attempts by Edge). But where oh where will all the escorts who aren't on rentboy go?

Source: NYPRESS

Hopefully now that HX will be in new hands, the new owners will keep the integrity of the mag in tact, but showcase other parties besides the ones in Chelsea or under the John Blair umbrella.