London technology magazine The Kernel is set to relaunch in August after managing to clear debts amounting to £24,000.
The online mag, founded by former Telegraph tech writer Milo Yiannopoulos, was forced to close in March this year, just 16 months after its original launch, as employees and contributors complained of unpaid wages.
However, a relaunch has been backed by German venture capitalist firm Berlin42, with founding partner Aydogan Ali Schosswald joining the newly formed publishing company, Kernel Media, as chief executive.
Yiannopoulos will remain as editor-in-chief, saying: "I'm very proud of a lot of the journalism that we published and the vast majority of enemies we made were for good reasons – they are enemies because they're bad people.”
A controversial character, Yiannopoulos was called the "pit-bull of tech media" by The Observer, while Forbes called him "digital media's Citizen Kane” during his time at the helm of the magazine.
His site mixed think pieces more serious in tone with “bitchy” columns about the London tech scene.
Provocative articles, including one entitled "Put a sock in it you dickless wonders", commenting on the number of women at tech conferences, regularly pulled in criticism.
Yiannopoulos has reportedly stressed that he will not repeat the financial mistakes he made, saying Berlin42 was providing a "runway" to fund the relaunch but that he will continue to “make enemies”.
"Obviously as an opinionated publication we did and will continue to make enemies," he said.
According to The Independent, The Kernel will focus on areas such as modern warfare, neuroscience, artificial intelligence, pornography and space travel, however subscription newsletter The Nutshell, previously The Kernel's sole source of income, will not return.
We're thinking of dropping the 'The'.— The Kernel (@KernelMag) June 2, 2013
The Kernel is coming back, and I'm immensely proud to be a part of it. Exciting times lay ahead. yiannopoulos.net/2013/06/01/its…— James Cook (@JamesLiamCook) June 1, 2013
Huzzah on the return of @kernelmag!— BenLattimore (@BenLattimore) June 2, 2013