Last April, Giant magazine was targeted by (someone posing as?) rival XXL, which sent out letters to Giant advertisers warning them the mag would be going out of business. Denials all around! In May: another rumor denied. Today: Giant folds.
Owner Radio One announced Giant is folding in print, although it will continue in some form online. No word on layoffs yet. They paid a mere $270K for Giant in 2007, so the financial loss is not as terrible as it could have been, in a cold, corporate sense.
The lesson is: Rumors are always true.
Not really! But usually they are.