Long-time industry mag Kirkus Reviews — announced as dead a few weeks ago, as noted in this MobyLives report — is going to live on after all. As Carolyn Kellogg reports in a story for the Los Angeles Times book blog Jacket Copy, the magazine is being bought from its previous owner, Nielsen, by “Herb Simon, owner of the Indiana Pacers, developer of shopping malls and savior of an independent bookstore in Montecito ….” That bookstore is the Tecolote Book Shop.

Simon, who is number 317 on the Forbes magazine list of wealthiest Americans, said he’ll rename the magazine company Kirkus Media. In a New York Times report, he says,

With the growth of e-books and e-reading devices, no one can really see the future of publishing. But turmoil like this creates opportunities. At a time when even the definition of a book is changing, my love of books makes me want to be part of the solution for the book publishing industry.