Karlie Kloss, the model turned investor and entrepreneur, is acquiring the British fashion and culture publication i-D Magazine.

Once the deal is closed, Kloss will take on the chief executive role at the brand, with current editor-in-chief Alastair McKimm will expand his purview under the new title of chief creative officer and global-editor-in-chief. The purchase was made through Kloss’ newly-created company, Bedford Media, which will be i-D’s new parent company. Kloss will also serve as Bedford Media’s chairwoman.

The acquisition marks Kloss’ second foray into the world of media ownership; in late 2020 she led a group of investors that bought W magazine, striking a deal with Bustle Digital Group to act as publisher.

For the past decade, i-D has been under the ownership of Vice Media Group, which filed for Chapter 11 bankruptcy in May. The company was bought out of bankruptcy by a group of its lenders, including Fortress Investment Group, Soros Fund Management and Monroe Capital.

i-D, which was founded by designer and former Vogue art director Terry Jones, published its first issue in 1980, documenting the style of punk-era London. In the years since, it has developed a cult following over the years since for its unique blend of fashion and cultural coverage, striking imagery and insights into emerging culture.

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Vice Media Files for Bankruptcy

Vice Media, which owns Vice, women’s media brand Refinery29 and fashion and culture-focussed publication i-D, filed for Chapter 11 bankruptcy.