Nickelodeon Magazine Folding LA Times

Nickelodeon Magazine is shuttering this week, a move which will result in the lay offs of 30 employees, the Los Angeles Times reports.

The magazine--like the network, owned by Viacom--was created in 1993 and reached a circulation of more than 1 million.

With the publication being hit by an advertising slump and more readers migrating to the Internet, the magazine's value as a marketing platform for the cable-television network had lessened.

 —Aimee Picchi