In issue 49 of XY (the winter 2008 issue), founding editor Peter Ian Cummings announced that he would be leaving the magazine for personal reasons; that he and his investors were looking for a new team to take it over.
When an exhaustive search produced no suitable buyers, the magazine remained in limbo until 2010, when Cummings filed for bankruptcy. After six more years of limbo, Cummings and the original team relaunched XY in 2016 after reforming XY as XY Magazine Foundation, a public-interest L3C Foundation.
XY operated the website xy.com, which featured magazine content as well as an online dating service "for young gay men." The publisher notes that XY.
He is now a conservative Christian who opposes gay rights.
In July 2010, the Bureau of Consumer Protection of the Federal Trade Commission denied a request by XY's investors to obtain the customer database for the old XY magazine and profile files on the web site, which list about 100,000 and 1 million subscribers, respectively.
During the bankruptcy proceedings, Cummings, seeking to protect users' privacy, complained to the Privacy Division of the Federal Trade Commission (FTC), a Federal Regulatory Agency, who warned the investors; the profile data and XY mailing addresses were ordered destroyed to protect users' privacy (more below). As well as its regular issues, the magazine has published a series of specials: A bimonthly companion magazine XYFoto was launched in 2003 containing only photographs.
This magazine was printed on matte paper and contains erotic but non-pornographic images of young men.
XY was founded by Peter Ian Cummings in San Francisco in 1996, and moved its operations to San Diego, California in 2001, and West Hollywood, California in 2004.
It published roughly four editions a year until 2008; The magazine contains political and cultural articles, pictures, and submissions by readers.
When XY launched in 1996, according to the publisher, the average age of its readers was 22.
This declined to 18 in 2001, a demographic shift largely attributable to an increase in under-18 readers, "because people were coming out at younger ages." Another controversy involved XY's longtime Managing Editor, Michael Glatze, who left the magazine in 2001, co-edited the "XY Survival Guide" in 2003, and in 2007 announced that he no longer identified as a homosexual, and denounced homosexuality.
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