I’ve written and rewritten this post at least three times today as new developments have surfaced. So lets get the basics down. Wizard magazine and ToyFare magazine are now defunct publications with most of their respective staffs being laid off effective immediately.

A now-former Wizard employee spoke with ifanboy and had some interesting things to say.

A self-aggrandizing press release from Wizard owner Gareb Shamus announced that the company was now a public company, will be launching an online magazine called ‘Wizard World’, and plans to have a 12 city convention tour. There was no mention of the discontinuation of the company’s two major publications.

Those who had subscriptions can expect not to be reimbursed since Mr. Shamus has something of a reputation for non-payment of contract work, and other shady practices.

As someone who had a subscription early in the magazine’s career and has roughly the first 100 issues, its sad to see it go, but I can’t tell you the last time I picked an issue up. It was a shadow of its former self. ToyFare’s end was a low blow for the toy industry as it was one of the few examples of a print publication based on toys that had remained successful and managed to get exclusive reveals of unseen figures.

You can see the press release and statement from Wizard World PR after the jump.

[Via Newsarama]

Press Release:

GAREB SHAMUS UNDERTAKES PUBLIC COMPANY WIZARD WORLD, INC. AND LAUNCHES NEW ONLINE PUBLICATION ‘WIZARD WORLD’

New York, NY (January 24, 2011) – Gareb Shamus, recently appointed President and CEO of public company Wizard World, Inc. (“Wizard World”) (OTC: GOEE.PK), today announced that the Comic Con Tour, which consists of pop culture conference events that provide high visibility marketing opportunities to pop culture brands and companies in multiple venues throughout the year, is now being produced by public company Wizard World. The Wizard World Comic Con Tour intends to cover 12 cities in 2011, including major cities such as New York City, Boston, Chicago, Philadelphia, Austin and New Orleans. The Tour will include sponsors ranging from major movie studios and TV networks to gaming and toy companies to content publishers.

In addition, Wizard World plans to launch in February 2011 an all-new digital magazine called ‘Wizard World’ that will appeal to pop-culture fans, the same audience to which Mr. Shamus has catered to, for over 20 years. Wizard World digital magazine will provide coverage of the world of comic books, toys and superheroes, and the personalities behind them.

“This is a very exciting day for Wizard World and the industries it serves,” said Shamus. “Having the Tour produced by a public company provides additional opportunities to expand and grow the Tour. The new digital magazine Wizard World will give consumers the content they want in a magazine format with which they are familiar, but distributed in a form that is always available at any time on any device. It is a natural evolution for us in this market.”

Wizard World Comic Con will begin its North American tour at New Orleans Comic Con held from January 29 to 30, 2011. The full event schedule can be found at www.wizardworld.com.

Wizard World PR:

Wizard Entertainment is ceasing publication of the print magazines Wizard and ToyFare. Wizard World, Inc. will begin production of the online publication “Wizard World” beginning in February. We feel this will allow us to reach an even wider audience in a format that is increasingly popular and more readily accessible.

http://blog.newsarama.com/2011/01/24/rumor-is-wizard-magazine-dead/

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