The Dec/Jan issue of NZ Musician noted that Rip It Up has a new owner. They also point out the magazine didn't publish a November edition.
A quick check on Rip It Up's website lists the new owner as Passion Publishing, registered with the Companies Office in September 2015 by Leanne Frisbee, who is listed as the sole director and shareholder.
Frisbee runs a PR company called Passion PR, which she set up in 2009. Rip It Up lists former owner Grant Hislop (who bought it in 2013) as still being editor.
UPDATED 21 April 2016: via The Spinoff... Which iconic New Zealand magazine is mysteriously being sold on TradeMe? (hint: it looks like it's RIU)
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