Vibe magazine, one of North America's biggest music titles, is folding

Vibe magazine, one of North America's biggest music magazines, is folding, according to a post in Gawker, the Manhattan media blog.

Founded by producer Quincy Jones in 1992, Vibe has been described as the black version of Rolling Stone. A post in Daily Finance blog quotes chief financial officer Angela Zucconi saying: "We will be making a statement by the end of the day. That's all I can say at this point."

Vibe enjoyed significant success in the late '90s and early part of this decade as hip hop and R&B became the nation's predominant forms of pop music. But in recent years the title has fallen on hard times under its new owner, the Wicks Group, which bought it in 2006. In February, it reduced its circulation and publishing frequency, cut salaries and moved employees to a four-day workweek to save money.

Surviving music magazines include Chart, Billboard, Source, XXL, Spin, Fader and Paste; recent casualties included Radio and Records, Performing Songwriter, and Blender