The cruel media recession has taken down another victim. According to Dailyfinance.com, Vibe magazine is shutting down. Assistants for Editor in Chief Danyel Smith and publisher Edgar Hernandez confirmed that Vibe Magazine will cease publication. Vibe has been having financial issues since being bought by The Wicks Group publishing company. In February, Vibe reduced its circulation and cut back salaries. Vibe was founded in 1993 by Quincy Jones. An official announcement is expected at 2 p.m. today.