Vibe Magazine To Shut Down
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Vibe Magazine is the latest victim of declining advertising revenue that has been plaguing the industry.
A spokesperson for Vibe Media Group says the magazine, which caters to hip hop and urban culture, had a circulation of 800,000 during the second half of 2008.
The company's 50 or so employees will be laid off.
Vibe was founded in 1993 by music producer Quincy Jones and was acquired in 2006 by The Wicks Group, a city private equity firm.