That hed pretty much tells you all you need to know about the future of print media. But there it is. Per Perez: "PerezHilton.com has exclusively learned that the magazine publishers just announced to staffers at Men's Vogue that the magazine is folding. Stay tuned.

UPDATE: FBNY just spoke to Men's Vogue and they confirmed for us that it is NOT folding. They did, however, tell us that the magazine is dropping down to two issues per year.