Vibe's new ownership regime doesn't seem to be working out too well. Ari Horowitz, who, with partner Eric Gertler, acquired the urban-music title last July, is no longer involved in running it. Horowitz, who was Vibe's president, claims he decided his time would be better spent focusing on BlackBook, which he and Gertler also snapped up last year, as well as lining up other new properties to buy.

Vibe sources, however, say it had more to do with pressure from the Wicks Group, the private equity group backing them. "Checks for contributors were being bounced and people weren't getting paid," says one insider. "All the big Web plans and promises they were making to the Wicks Group never happened. Looks like Eric tossed over Ari to save his butt."

"That's not correct," insists Horowitz. "That's just people speculating. It just seems right now that BlackBook is an amazing opportunity. I think it's the best use of my time." (Not that Horowitz will be running that magazine either; it recently named a new chairman, venture capitalist Bob Hoff.)

True or not, the image of Horowitz bobbing in the surf is a pleasing one to Vibe refugees, who remember how he praised the staff fulsomely upon taking over—only to lay most of them off several days later.