I read this at Locus Online today:

John Joseph Adams, editor of Fantasy and Lightspeed, has purchased both magazines from Prime books. Adams will become the official publisher in January 2012. He took over as editor for Fantasy magazine earlier this year, and has edited Lightspeed since its June 2010 debut. Fantasy magazine was established in 2005, and has been nominated for the Hugo Award; stories from both Fantasy and Lightspeed have been nominated for the Hugo, the Nebula Award, the World Fantasy Award, and the Theodore Sturgeon Award, among others.

These are great online zines, with excellent pay rates for authors. Definitely the future of fiction magazines, it’s great to see these two in such good hands. Long may they reign. Full press release via S F Signal here.