R.I.P. Vibe Magazine
Looks like all the rumors about Vibe’s financials were true. It’s official Vibe magazine has folded.
According to Suprememag;
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In a memo to the staff announcing the closure, Steve Aaron, CEO of 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. |
RUMOR: Word is Spin magazine is feeling the force of the recession too. Apparently they have let go six staff members and maybe more to come.
Vibe magazine was founded by Quincy Jones in 1992 and for a very long time was one of the main sources of information for hip hop news, fashion and culture.
Wicked
June 30, 2009 @ 8:07 pmAaawwww! That’s messed up.