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The Star Observer has been saved and will live on, after being acquired by new media company Out Publications.

Last month, the iconic national LGBTIQ+ publication entered , prompting fears the 40-year-strong masthead would collapse.

However, Administrator Trent McMillen from MaC Insolvency conducted a thorough sales campaign resulting in the successful sale of the business.

The Star Observer will now be published by Out Publications, a new media company established by Lawrence Gibbons.

Gibbons founded the Sydney City Hub in 1995, one of the last independent publications remaining in inner Sydney. He said he was “thrilled” to be working with the team at Star Observer to continue producing the publication.

“I met Michael Glynn, the Star Observer’s founder, the year he died in 1996,” he said.

“It is an honour and a privilege to keep Michael’s legacy alive.”

Founded in 1979, the Star Observer is the news journal of record for Australia鈥檚 LGBTIQ+ communities. The publication has been at the fore of chronicling and championing issues important to LGBTIQ+ communities, from decriminalisation and the AIDS crisis through to Australia’s recent marriage equality win.

The publication’s Chair, Sebastian Rice, said the Star Observer remains a vital source of news and support for the LGBTIQ+ community.

“The Board of Directors has worked closely with the Administrator, MaC Insolvency, to ensure the long term survival of the publication and archives,” he said.

“I am hopeful that our community and advertisers will show renewed support for the Star Observer, as it enters this new phase in its 40 year history.”

McMillen said it was a great result for the publication.

“MaC Insolvency is a boutique advisory firm proudly focused on saving SMEs in debt distress,” he said.

“From day one, we were acutely aware of the desire amongst the LGBTIQ+ community to preserve the Star Observer and its rich history.

“It is fantastic to see that our hard work has paid off, and this valuable community asset will live on.

“We would like to thank the many concerned community members who contacted us to offer their support and the many parties, both commercial and community based, who expressed interest in acquiring the publication. We at MaC Insolvency look forward to watching the Star Observer flourish into the future.”

The publication’s Editor-in-Chief, Matthew Wade, recently about how the Star Observer had changed his life, and its continued importance in Australia’s LGBTIQ+ community.

“For 40 years, the Star Observer has informed, connected, and inspired Australia鈥檚 LGBTIQ+ communities, and kept them abreast of the latest queer stories and issues,” he wrote.

“Stories and voices that would never see the light of day in mainstream publications are given life in the queer press, allowing our communities to stay connected and informed.

“Whether you鈥檙e a young LGBTIQ+ person only just discovering their sexuality, with little to no support networks or links to the community, or a flag waving advocate helping to advance the rights of queer people around the country, publications like the Star Observer unify us all and ensure that no-one gets left behind.”