PiQ magazine, the successor to NewType, has bitten the dust with its 4th issue:

The current issue of PiQ (Issue 4, July 2008) will be our last.

It’s unfortunate that we’ll never get a chance to see how successful PiQ could have been, but a combination of low advertising revenue, poor business management and a lack of proper marketing and promotion all hamstrung the magazine from the start. We, the editorial/creative/production staff, did the best we could to put together a quality publication, but as we’ve discovered, without a good financial backing, it’s all an exercise in futility.

For those readers that were just starting to get behind the magazine, the staff of PiQ gives a hearty “thank you” to all of you for your support. To those of you who subscribed (or were formerly subscribed to NTUSA), more details will be coming soon.

Johanna has more links and commentary. The cancellation, and current “what ever happened to?>” status of most of ADV’s manga output , as well as the general softness of the anime market will doubtless fuel any more “what the heck is happening at ADV?” log posts, and I guess this qualifies as one.