MUSIC NEWS- Popular USA music magazine, Vibe, which was primarilly covered politics, culture and the hip-hip and R&B scene, is shutting down effectiv immediately, a spokesperson said today in NYC. Vibe's demise leaves only one print magazine covering the musical genres, The Source, The New York Times has reported.
Magazine spokeswoman Tracy Nguyen told the NY Times the staff was being formally notified Tuesday afternoon, saying it's still unknown as to how many people would lose their jobs. The Vibe Media Group chief executive Steve Aaron wrote in a memo to staff that the firm was unsuccessful in luring 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."
Vibe was begun in 1992 by musician/producer Quincy Jones and Time Warner and was sold in 2006 to a private equity firm, Wicks Media, and had a circulation of approximately 818,000 in the second half of last year but had fallen to around 615,000 recently.
xxl is a hiphop magazine much better than vibe and the source get ur facts straight
Posted by: 4thatkid0 | Jul 08, 2009 at 07:31 PM