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One of my favorite magazines of all time is up for sale. Peter Brant, who publishes Interview, along with The Magazine Antiques and Art in America, is unloading the media property to the highest bidder. Interview, which was founded by Andy Warhol, just won’t be the same once it’s handed over to a Conde Nast or the like.

Under Warhol’s direction, the monthly magazine was a pioneer in chronicling both pop and underground cultures from a downtown perspective. The Brants had become art collectors who were fascinated with original Warhols and soon had befriended the man himself.

Two years after Warhol’s death, Brant and wife agreed to buy full ownership of the magazines from the estate for $12 million – but it ended in bitterness. Their new company was eventually sued by the estate, which claimed after Brant paid the first $4 million up front, he backed out on the remainder and never paid the $7.2 million balance. The case was eventually settled.

A spokesman for the magazine said only this: “Sandra Brant, president & CEO, and Ingrid Sischy, editor-in-chief, are as devoted as ever to Interview and excited about its future.”

Papa, I’m scared.

More photos of Keri Russell from Interview Magazine after the jump.