Ray Gun publisher Marvin Jarrett is to start a new company titled, Popmedia Inc to house new magazine, Nylon.
The creation of the new entity follows Jarrett's decision to sell his interest in Ray Gun Publishing to both an unnamed third party investor and the magazine's existing management. Jarrett will give up control of two magazines, Ray Gun and Bikini, which he launched.
Jarrett sold the company in order 'to put 150%' into the new magazine.
Nylon launches in March 1999 with an expected print run of around 300,000.
Jarrett is relocating to a new office in Hollywood and plans to spend a week 'brainstorming' in Canada with co-creator Helena Christensen, the former model.