Vibe Magazine Folds
June 30, 2009 at 5:13 PM (PT)
VIBE MAGAZINE, founded 16 years ago by QUINCY JONES, has folded. It becomes the latest media victim of the current economy. The company’s CFO, ANGELA ZUCCONI, said, “We will be making a statement by the end of the day.” Further questions were referred to CEO STEVE AARON, who refused to comment.
VIBE blossomed during the late 1990s and survived the early part of this decade, primarily featuring stories about hip-hop artists and their lifestyles. THE WICKS GROUP, which purchased the magazine three years ago, reduced staff, cut salaries and reduced circulation, all to no avail. A combination of rising operating costs and reduced advertising are given as the reasons for the publication’s failure.