Nylon x FashionIndie Merger:



Nylon magazineDiversis Capital and Backbone Capital Advisors backed the acquisition of both Nylon and FashionIndie by a venture headed by former Rolling Stone publisher Dana Fields and Election.com founder Joseph Mohen earlier this month. Soon afterm Nylon co-founders Marvin and Jaclynn Jarrett sued, claiming that Donald Hellinger sold his 51% stake in Nylon to Mohen’s venture without notifying the Jarretts.

Now, two weeks after being named Nylon’s new CEO, Joe Mohen is out. He told the NY Post that he will continue with the venture only as an adviser, and Diversis has bought out his stake in Nylon. And he’s not the only one abandoning ship–the two top people under the Jarretts, the magazine’s associate publisher, Karim Abay, and executive editor, Ashley Baker, have also resigned. Dana Fields, Nylon’s chief revenue officer and publisher, is now in charge.

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