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Ad Slump KOs Vibe

By Harry Kimball,  Newser Staff

Posted Jun 30, 2009 3:33 PM CDT
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(Newser) – Hip-hop magazine Vibe is ceasing operations today, the New York Times reports. The publication has been in dire financial straits, and its chief said it had sought new investors or a plan “to restructure the huge debt on our small company” to no avail. Though Vibe reported healthy circulation of 818,000 at the end of last year, it recently downgraded its target from 800,000 to 600,000.

“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,” chief Steve Aaron wrote to employees. The formal announcement was scheduled for this afternoon, and it is unclear how many workers will lose jobs.

President Obama on the November 2008 cover of Vibe.
President Obama on the November 2008 cover of Vibe.   (AP Photo)
Robert De Niro and 50 Cent share the cover of Vibe.
Robert De Niro and 50 Cent share the cover of Vibe.   (AP Photo)
Mary J. Blige on the cover of Vibe.
Mary J. Blige on the cover of Vibe.   (AP Photo)
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COMMENTS
Showing 2 of 2 comments
Pragmaticrealism
Jul 2, 2009 5:09 AM CDT
First VIBE, next the the NYT, WSJ, LATimes...
DontLikeYou___
Jun 30, 2009 11:31 AM CDT
Awe. Where will I get my racism tainted, liberal news from now?

 
entertainment • magazine • publishing • recession • circulation • hip-hop • print advertising • Vibe • out of business

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