According to a report this afternoon by brand new Racked contributor Jenna Marotta, it was a very ugly summer weekend over at Lucky. Because some counted-on investment money did not come through, several staffers were informed their services would no longer be needed and word began circulating that there will soon be no more Lucky magazine print edition. From Marotta’s item:
“I got a phone call last night around dinnertime,” says the source, who worked on the digital team and asked to remain anonymous. Her direct boss – who Racked is choosing not to identify by name – “let me know that the deal that they were trying to put in place that they had been talking about for the past two weeks, that the investor side of things had fallen through. And that they decided that they couldn’t continue on with the print magazine and that they were bringing the Web down to a very small group… It was sort of like this is the ‘unofficial official’ call giving you a heads up that this is happening.”
More to come. Marotta’s report contains numerous additional details, including the fact that their source received one final paycheck, today, with no severance allegedly in store.
Despite the fact that Racked’s earlier item today led to coverage by everyone from New York magazine to WWD, who confirmed the print edition will end, there is at press time no acknowledgement on the brand’s official Twitter account.