Huffpost Media

Vibe Magazine Folds

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NEW YORK — Vibe, the popular hip-hop and urban culture magazine founded by legendary producer Quincy Jones, is shutting down.

Vibe Media Group Chief Financial Officer Angela Zucconi confirmed the closing and said most of the company's 50 or so employees will be laid off.

The closing comes amid a historic decline in ad revenue across all media that has left many categories of magazines struggling. Among recent casualties have been Portfolio, Conde Nast's high-end business monthly, the style and home decorating magazine Domino, and Blender, another music magazine.

Founded in 1993, Vibe had a paid circulation of roughly 800,000 during the last six months of 2008. The magazine was acquired by The Wicks Group, a New York private equity firm, in 2006.