Radar magazine shut down unceremoniously today — again — but the web site will live on, according to the New York Observer. The site has been acquired by AMI and will be redesigned and rebuilt as a competitor to TMZ.com, with the National Enquirer‘s David Pecker as managing editor. The URL will change from “radaronline.com.” Founder Maer Roshan says he has been asked to be involved but doesn’t think he will; some of the staff may be retained to work on the site. The magazine first launched in 2003.
Roshan told the Observer: “What is so frustrating is that we seemed to have reached a turning point. You’re dealing with independent investors and they saw the market and they were fearful about the future.” First, he was told Radar would need more investors, then he was he’d have to find them himself. Then, as NYO reports, this morning, they told him it was over. Roshan: “Up until today I thought we could still talk about options for the magazine
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