Online design magazine Design Week has been acquired by its web development company Interconnect, saving it from closure.
Interconnect purchased the company from its previous owner Xeim, which also runs Marketing Week and Creative Review, after working as Design Week's service provider since 2015.
"We felt that taking ownership would inject new vitality into the brand," Interconnect director David Coveney said in a statement.
"Design Week is known for its quality analysis and broad coverage of the design sector. We intend to maintain these strengths and will also invest in a new design and content strategy to enhance the publication's relevance and reach."
The news comes after the magazine, focused on the business of design, had announced its imminent closure last December after 38 years. Set for relaunch in 2024
The magazine's website was initially set to be taken offline by mid-January, as Xeim's parent company Centaur Media has decided to refocus on its "core audience of marketers" via its other publications.
But the website remains online to this day and, although a concrete date is yet to be fixed, Coveney told InPublishing the aim is to recruit staff and relaunch Design Week this year in time to resume its annual awards.
Design Week has been acquired by Interconnect. Photo by Jeremy Myerson
Based in Liverpool, Interconnect has functioned exclusively as a web development and design studio in recent years.
But, according to Coveney, it was...