After 14 years, Complex Magazine will be folding. According to Billboard, it announced today that the December 2016/January 2017 issue will be the last run. The final farewell edition features Sofia Richie and Pusha T on its covers.
Debuting in 2002, the company received a $21 million USD investment from Hearst and in April of this year the company was acquired by Hearst and Verizon in a 50/50 ownership deal reportedly worth $250-300 million USD. The new ownership converted the brand to Complex Networks with a focus on video which could explain the stoppage in print and layoffs, most of which hitting the magazine’s art, marketing, sales and editorial departments. In the release to Billboard, the company stated, “as Complex embarks on a rapid expansion of premium video creation across the company’s networks and with a growing list of distribution partners, the company is reallocating certain positions to address its content needs. We’re deeply committed to the ongoing evolution of our brand and our long-term plan to be a leader in digital video entertainment. While we’re reducing staff in some areas, we plan to increase to meet our needs in others.”