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updated 12/14/2005 11:00:20 PM ET 2005-12-15T04:00:20

Radar Magazine, a fledgling publication about politics, pop culture and style backed by New York Daily News owner Mort Zuckerman, has folded, its publishers said Wednesday.

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Zuckerman and co-publisher Jeffrey Epstein said that “the current economic environment — primarily reflected in the magazine’s lack of advertising traction — no longer makes it feasible to continue publishing,” according to a statement released by a Radar spokeswoman.

Radar’s roughly 50 employees were told late Wednesday afternoon, and a follow-up meeting would be held on Thursday, spokeswoman Donna Dees said.

The magazine’s editor in chief, Maer Roshan, said in a statement that “in just a few short months” Radar and its Web site broke news and published “groundbreaking stories.”

Radar’s last issue, “The Scary Issue,” featured 371 of what the magazine dubbed the most frightening things of the year and a piece by former Los Angeles Times columnist Norah Vincent about dressing as a man for 18 months. A book on Vincent’s experiences is due out in January.

A media kit on Radar’s site said its advertising rates were based on a circulation of 150,000. The magazine said it targeted 25- to 39-year-old educated professionals.

Roshan said he was talking with new investors and hoped to continue operations.

Roshan, who previously worked at New York, Talk and Interview, founded Radar in 2003, but the magazine fizzled without funding. Its current incarnation lasted three issues, the first in spring 2005.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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