Say buh-bye to VIBE Magazine. The urban-music publication founded in 1993 by legendary producer Quincy Jones is closing its doors. Multiple sources in and outside the magazine industry tell the Daily Finance that VIBE is shutting down at close of business Tuesday.

“We will be making a statement by the end of the day. That’s all I can say at this point,” chief financial officer Angela Zucconi told the site this morning.

UPDATE:

It’s a wrap for VIBE.

The staff was told of the publication’s closure during a meeting at 2 PM EST on Tuesday.

“On behalf of the VIBE CONTENT staff, it is with great sadness, and with heads held high, that we leave the building today,” Editor-in-chief Danyel Smith said in a statement. “We were assigning and editing a Michael Jackson tribute issue when we got the news. It’s a tragic week overall, but as the doors of VIBE Media Group close, on the eve of the magazine’s 16th anniversary, it’s a sad day for music, for hip-hop in particular, and for the millions of readers and users who have loved and who continue to love the VIBE brand. We thank you, we have served you with joy, pride and excellence, and we will miss you.”