The Sad News was made public today that Vibe Media Group has officially ceased production of the 17 year old hip hop music magazine. Dailyfinance.com was the first to recieve the word, the Vibe staff was informed at a meeting around 2pm today.
"In a memo to staff members announcing the closure, Steve Aaron, chief of the Vibe Media Group, wrote that for months, the company tried in vain to either find new investors or “to restructure the huge debt on our small company.”
“The print advertising collapse hit Vibe hard, especially as key ad categories like automotive and fashion, which represented the bulk of our top 10 advertisers, have stopped advertising or gone out of business,” he wrote. - VIA MediaEncoder
Vibe was founded in 1992 by Quincy Jones under Time Warner. In 2006 the magazine was bought bout The Wick Group, the publication began to fall in cirucaltion after that.
Now All that is left of the Old world Hip Hop Heavy weight mags are XXL and The Source ( the source is barely hanging on after goin bankrupt last year).
Other Magazine Closures are:
Blender Magazine
Nickelodeon Magazine
Men's Vogue
Portfolio
PC Magazine
2 comments:
King magazine just closed....now Vibe?
Damn that's sort of messed up, I mean you would think the source would have been outta there! Who reads that deal!
Well my dude rich made the last issue! That's a plus
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