Blender magazine is official a wrap.

According to AdAge.com, the mag's parent company Alpha Media Group eliminated 30 jobs Thursday (March 26), and cut their publication portfolio to their now lone title Maxim.

The Blender cut came on the heels of the company's co-CEO Glenn Rosenbloom leaving, and the integration of editorial staff between Maxim and Maxim Digital.

Despite its closing, CEO Stephen Duggan said the decision came with great sadness.

"Since 2001, Blender has provided unmatched music coverage and entertainment news in its unique voice to a profoundly dedicated audience of music enthusiasts," Duggan wrote in a company memo. "We are particularly grateful to the sales team and to the tremendously talented editorial staff for their hard work and commitment to Blender."

While the mag's staff was cut, Joe Levy -- who was editor in chief -- was named editor in chief of the combined Maxim editorial operation. The current editor in chief is leaving the company, said the report.

After the changes, Alpha will continue to employ 134 staffers.

The mag's ad pages declined 31% last year, according to AdAge.com, and another 57% from January through April.

Duggan's memo to staff blamed the global financial crisis, but said the company would persevere. "Alpha Media Group is weathering the current economic difficulties, and we are confident that with the changes we are implementing, the company is in the strongest position possible to continue moving forward," he said.

At press time, it was unclear if Blender's April issue with Kelly Clarkson on the cover would its last.