The literary magazine founded by Octavio Paz in 1976 was Vuelta. The Mexico City-based Spanish-language magazine began publication in December 1976 after a political and editorial crisis at the newspaper Excélsior disrupted Paz's earlier magazine, Plural.
Paz served as Vuelta's director, and its contributors included major writers and intellectuals from Mexico, Latin America, the United States, and Europe. The magazine published literary criticism, poetry, essays, political commentary, and cultural debate. Its contributors included Carlos Fuentes, Mario Vargas Llosa, Gabriel Zaid, Jorge Luis Borges, Susan Sontag, and Milan Kundera.
Vuelta continued publication until 1998, shortly after Paz's death. It received the Prince of Asturias Award for Communications and Humanities in 1993 and became one of the most influential Spanish-language cultural magazines of its period. Plural was its predecessor, not the answer to this question; Nexos and Letras Libres were separate Mexican magazines. Letras Libres, founded by Enrique Krauze, is often described as a later inheritor of Vuelta's intellectual legacy.