Tuesday, June 30, 2009

Folding magazines: Vibe

It's been struggling for a while, but now the struggle is at an end: Vibe magazine is closing with immediate effect:

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.

The most frustrating thing for the magazine is that its circulation wasn't too bad for the time; it's just there wasn't anything to sell to them.