Tiger Beat, the magazine whose flattering photographs of young pop stars and actors made it a favorite of teenage girls, has found its Prince Charming. A few of them, actually.
A group of 17 investors recently raised $2 million to buy and revamp the magazine, giving new life to a publication that had lost much of its sheen. The goal: turn the glossy magazine into a media empire.
Tiger Beat’s new backers include the banker and entrepreneur Mark Patricof; the television host and comedian Nick Cannon; the basketball star Kevin Durant; Steve Tisch, a film producer and the chairman and executive vice president of the New York Giants; and The Daily Mail.
“It’s a great investment,” Jon Steinberg, the chief executive of Daily Mail North America, said in an interview. “This is not a vanity investment.”
Though the publication has faded in popularity, Tiger Beat, which began in 1965 near the height of Beatlemania, remains the paragon of so-called teenzines. Its pages are filled with flowy-haired heartthrobs. Exclamation points rival hearts for supremacy. There are pullout posters and full-page photos that can be ripped out and stuck on walls.
But among Tiger Beat’s investors, there is a bigger vision for the brand.
“I knew when I was a teenager how much impact it had,” Mr. Tisch said. “I’m certainly excited about not only restoring the power of Tiger Beat, but really introducing it to a whole new generation and hopefully many generations going forward.”
To that end, there are plans to overhaul the website. Mr. Patricof, a senior executive at the boutique investment bank Houlihan Lokey, also mentioned plans for a music tour and a radio channel. He hinted that the Tiger Beat brand could get involved in TV and film. There will be T-shirts with the magazine’s vintage logo.
The magazine itself will retain much of its archetypal charm. The cover of the September issue, the first published under its new ownership, has collaged photos of young stars like Taylor Swift and Ariana Grande. There’s an exclusive feature on the Disney Channel movie “Teen Beach 2,” with “never-before-heard secrets, behind-the-scenes stories, LOLS and more.” Luke, Ashton, Michael and Calum of the Australian band 5SOS (5 Seconds of Summer, for you non-tweens) share “girl secrets.”
Since the magazine’s glory days in the 1970s, the landscape for celebrity news has changed drastically. Digital sites like BuzzFeed and TMZ certainly present tough competition. But while plenty of media companies are focused on millennials, fewer are aimed at the younger “centennials.”
Indeed, the new Tiger Beat family does not seem particularly worried.
“This magazine will not lose money,” Mr. Patricof said. He emphasized the power of the Tiger Beat brand, which he said would appeal to advertisers.
Leesa Coble, the magazine’s editor in chief, was also optimistic.
“It just has such a ripe platform to grow and grow and grow,” she said. “Under this company, I think it will become the brand that it has been screaming to be.”
