Top image: Elena Bespalova, via Lightspeed Magazine
Now the magazine's owner, Prime Books, is spinning it off, and Adams is taking over ownership. He's also going to be the new owner of the long-running Fantasy Magazine. Here's the press release with all the details:
ROCKVILLE, MD, NOV. 7-Prime Books is pleased to announce the sale and transfer of ownership of their acclaimed online magazines Lightspeed (www.lightspeedmagazine.com) and Fantasy (www.fantasy-magazine.com) to John Joseph Adams. Adams, the current editor of both magazines, will officially assume the role of publisher starting with the January 2012 issues.
"With the continuing expansion and success of Prime Books, my attention and time is increasingly consumed by book publishing," publisher Sean Wallace said. "With John already doing a terrific job as editor, it simply made sense for him to take over as publisher as well. We're really thrilled that this has worked out for both John and Prime."
New publisher John Joseph Adams says he is delighted at the prospect of taking over the magazines and looks forward to the challenges ahead. "It's an exciting time to be involved in publishing," he said. "Models are changing and so is the readership, and online magazines have a better shot at sustainability than ever have before. I believe the possibilities for growth are tremendous, and I look forward to staying in the vanguard of this new frontier."
Fantasy Magazine was established in 2005, and has been edited by Sean Wallace, Paul Tremblay, and Cat Rambo, with Adams taking over as sole editor earlier this year. Lightspeed-published by Wallace and edited by Adams-debuted in June 2010 and was a 2011 Hugo Award nominee. Numerous stories originally published in Lightspeed and Fantasy have been reprinted in best-of-the-year anthologies, and Lightspeed and Fantasy stories have been nominated for the Hugo Award, the Nebula Award, the World Fantasy Award, the Theodore Sturgeon Award, and others. Lightspeed's first year of fiction has just been published by Prime Books in the print anthology Lightspeed: Year One (ISBN: 978-1-60701-304-4).