And another one bites the dust… Due to the recession, VIBE Magazine has been forced to shut down. The urban-music magazine was founded in 1993 by Quincy Jones and had a great amount of success during that decade. But under its new owner, the Wicks Group, the magazine has fallen and has lost many of its readers. In February, Vibe’s circulation went down, salaries were cut, and employees were no longer working five-day workweeks.

Christina Milian and The Dream were set to cover the next issue of the magazine, which according to Rap Radar unfortunately will not be hitting newsstands. Follow the break to read a statement from CCO/Editor-in-Chief Danyel Smith.

On behalf the VIBE CONTENT staff (the best in this business), it is with great sadness, and with heads held high, that we leave the building today. We were assigning and editing a Michael Jackson tribute issue when we got the news. It’s a tragic week in overall, but as the doors of VIBE Media Group close, on the eve of the magazine’s sixteenth anniversary, it’s a sad day for music, for hip hop in particular, and for the millions of readers and users who have loved and who continue to love the VIBE brand. We thank you, we have served you with joy, pride and excellence, and we will miss you.

– Danyel Smith

Being the most popular urban magazine in circulation, VIBE will definitely be missed.

Be the first to receive breaking news alerts and more stories like this by subscribing to our mailing list.