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The magazine, one of only two nationally distributed periodicals covering the hip-hop and R&B music scene, announced Tuesday it was shutting its doors because of poor ad sales and an inability to find investors.

But Jones said he's determined to bring Vibe back to life as an online-only entity, Ebonyjet.com reported.

"I'm trying to buy my magazine back now", Jones told the Web site from his London home. "They just messed my magazine all up, but I'm gonna get it back. You better believe it, I'm (going to) take it online because print and all that stuff is over."

The legendary music figure, who founded the magazine in 1993 in conjunction with media company Time Warner, said he was proud of his creation, which, like many other periodicals, has been crippled by an advertising slump brought on by the recession.

"We gotta get into the 21st century you know", Jones told EbonyJet.com. "Print and all that stuff is over, we gotta remember that. The Chicago Tribune, The Seattle Post-Intelligencer, The Miami Herald -- they're over the same way as the record business."

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