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The Brief Untimely End of Prophecy Magazine?

Prophecy Magazine announced itself as "dedicated exclusively to comic content from independent and alternative artists."

Recently Journalista! pointed to a recent announcement from Prophecy Magazine to its contributors on the TCJ Messageboards. In a nutshell: lack of funding means no publication, magazine won't honor contracts with contributors and hey, why don't we split the profits on an anthology of the work produced for the magazine.