Now Magazine will go digital-only later this month after acquisition by Gonez Media

Online media company Gonez Media Inc. has acquired Toronto-based Now Magazine and plans to relaunch it in digital-only format as NOW later this month, the company said Monday.

An announcement that pops up upon opening the weekly alt magazine notifies readers about exciting changes" coming to the website and brand on Jan. 17. Now published its last print edition in August but kept the website. Today, the webpages of the site still display headlines from past coverage as recently as December, but stories are currently inaccessible.

This is a huge move for us. It elevates Gonez Media to become a true dominant player in Canada's digital media landscape," Brandon Gonez, chief executive officer of GMI, said in a news release. NOW is going to be powered by this same passion and expertise. It's coming back bigger and bolder than ever, and we're excited to further push the envelope of digital media in Canada."

Gonez Media said it has completed the acquisition of Now Magazine this month, marking two years since the digital media group was launched. It did not reveal the terms of the purchase.

Under the new banner, NOW will become a more prominent, trusted and defining voice in the news and culture space of Toronto," the company said in a statement, promising major coverage of arts, music, and entertainment to maintain the former weekly's 42-year-old roots.

Catering to its online audience under 45, NOW will publish news-driven content on social media channels including Instagram and TikTok.

Now Magazine was launched in 1981 and rose quickly as Torontonians favourite music reviews, movie listings and local cultural news. It printed and distributed 60,000 copies, but in recent years, the publication was hit with crisis after crisis, from lack of advertising following the 2008 recession to the COVID-19 pandemic and its implications. Print editions were slashed by more than half.

Owners of Now Magazine went bankrupt and staff members were laid off, with many of them owed salaries and payments for last year. Gonez Media, the producer of YouTube episodes the Brandon Gonez Show and News You Can Use, did not mention the fate of staff in its press release and was not immediately available for comment.

Fares Alghoul is a Toronto-based general assignment reporter for the Star. Reach him via email: fakram@thestar.ca