Hearst Magazines revealed Friday that they are closing down CosmoGirl magazine after its December issue. Subscribers will instead receive issues of Seventeen, and the CosmoGirl brand will live online at CosmoGirl.com

CosmoGirl, a spin-off of Cosmo introduced in 1999, follows in the footsteps of Hachette's ElleGirl and Time Inc.'s Teen people, who've also gone out of print. Reportedly, ad pages in the first three quarters came in 14.4% lower than in the same period last year. Circulation fell 1.4%, but sank 18% on newstands.

While CosmoGirl isn't the first magazine to shut down, or the last, it could be the first of many titles to soon fall to the harsh economic conditions for mid-tier media outlets. With the global economy now in crisis mode, and spending by consumers and business slowing, ad sales are likely to drop across the board, forcing out those publications that are just scraping by.