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It is with complete and utter disbelief that we relay this news broken by our sister blog, Fishbowl NY: 106-year-old House & Garden will cease to exist come December.

While we’re not terribly surprised about the surfeit of shelter mags crowding out some of the competition, we thought H&G was one of the most forward-thinking. Earlier this year, H&G took on a massive website redesign that not only made it look real pretty, they made some super-smart choices like adding Grace Bonney, Karrie Jacobs and Treehugger as bloggers, as well as bringing Jay McInerney‘s wine column online.

Although maybe this really isn’t the end…H&G has already been axed once in 1993, and was brought back to life in 1996.

A statement from Condé Nast follows.

House & Garden magazine will cease publication with its December issue, it was announced today by Charles H. Townsend, President & CEO of Condé Nast Publications. The website, houseandgarden.com, will also be shut down.

“House & Garden has a long and venerable history within Condé Nast,” Mr. Townsend said. “This has been a difficult decision to come to but we feel it is one that must be made at this time. I would like to thank Dominique Browning and the entire staff for their award-winning efforts throughout the years. House and Garden’s intelligent and graceful editorial attracted a loyal readership. We were proud to publish it.

“With the unexpected departure of the publisher of the magazine, we decided to take a serious look and re-evaluate the title,” Mr. Townsend said. “Our investment in House & Garden throughout the years has been substantial and we no longer believe it is a viable business investment for the company.”

Condé Nast will continue to be a leading publisher in the home and lifestyle category with magazines including Architectural Digest, Domino, and Vogue Living (which will increase its frequency in 2008).