LA Times Magazine Folding After June 3 Issue, New Quarterly To Come

As first reported here, followed by announcements from FishBowlLA and LAist, the LA Times' four year-old LA Times Magazine will cease publication after its June 3 issue. Editor Nancie Clare cites "revenue issues" and states "It’s still a tough economic climate, especially for print. I don’t think they got rid of us because they don’t like us." All seven magazine employees will be let go. Today the LA Times printed its own formal declaration which also reveals plans to develop a new "quarterly publication focusing on luxury, fashion and style."
·Breaking [~ELA~]
·Exclusive: LA Times Magazine is Shutting Down [FishBowlLA]
·Los Angeles Times to discontinue LA, its Sunday magazine [LAT]