On May 17, 2007, the magazine, published on a bimonthly basis, announced that it had stopped publication, at least temporarily, with the April/May 2007 issue." On October 27, 2007, Edwin S. Grosvenor, purchased the magazine from Forbes for $500,000 in cash and $10 million in subscription liabilities. Grosvenor, who serves as president and editor-in-chief, is the former editor of the fine arts magazine, "Portfolio". Grosvenor was also the editor of the literary magazine, "Current Books", and magazines for Marriott and Hyatt Hotels. He was also the CEO of KnowledgeMax, Inc., an online bookseller.