It's been a rough week for magazines. After learning of Radio & Records's closure yesterday, today comes news that Nickelodeon Magazine Group plans to fold its Nick and Nick Jr. magazines by the end of the year.

"As I am sure everyone knows, the magazine publishing industry as a whole is severely challenged, and because of that, we have decided to exit the magazine business and will cease publishing them by the end of this year," said Cyma Zarghami, president of Nickelodeon/MTVN Kids and Family Group said in an internal memo, according to Mediaweek.

Monthly Nick magazine was aimed at boys and girls ages six to 14, and had a rate base of 650,000. Nick Jr. was geared toward preschool aged children and their moms, with a rate base of 250,000.

Requests for information from Viacom's corporate communications office (Viacom owns Nickelodeon and its parent MTV Networks) were not immediately returned.