…and fired its staff, but the three managers apparently plan to keep the website going. Paste announcement here, AP story here.
Last year, the magazine asked readers to donate money to help it stay afloat, drawing thousands of dollars. The donations helped delay the inevitable, after advertising revenue dropped, Jackson said. “We thought we could make it, but we ran out of fumes,” Jackson told The Associated Press in a phone interview. “We’re an independent publication doing this out of the love of doing it.”
Even if you’re a Paste hater (which I’m not), it’s sad to see another music pub bite the dust. Side note: Rachael Maddux was always an awesome editor to work with. Someone should hire her pronto.