Short answers, pulled from the story.
The September 1997 issue of PlayStation Magazine featured Final Fantasy VII on its cover, marking the beginning of the publication. This launch established the magazine as a dominant force in the American market for Sony gaming.
The magazine operated as an independent entity known simply as PSM before becoming PlayStation: The Official Magazine. It was published by Future plc and maintained a unique identity distinct from corporate-backed competitors.
Robert DeJesus created and illustrated the anime-style mascot named Banzai Chibi-Chan for the early issues of PSM. The character was featured prominently in early issues and inspired apparel and other accessories before being dropped due to concerns about the magazine's intended audience.
Sony Computer Entertainment announced on the 1st of October 2007 that PSM would become PlayStation: The Official Magazine. The last issue published under the PSM title was that of December 2007, with the rebrand taking effect with the following Christmas 2007 issue.
The magazine ceased publication after 15 years with its Christmas 2012 issue. Five of those years were spent as PlayStation: The Official Magazine before the decline of the print media industry and the rise of digital platforms led to its cancellation.