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Rumors are flying about the future of L.A. Weekly founder Jay Levin’s latest venture, RealTALK LA. Kevin Roderick of LAObserved posted Friday that the new magazine may be folding due to the inability to make payroll. Today, he posted a note from Levin’s executive assistant refuting the payroll claim saying, “It is true that we are re-organizing even while we prepare our next issue and will have more to report at a later date.” No indication of the time-frame or effect of the reorganization.

In preview of the magazine and its website, Levin rolled out an unprecedented ad campaign. It’s been impossible these last few months to go anywhere in the city without encountering a RealTALK LA bus stop or billboard ad. The first issue – May – came out a week late. The editorial content follows through on the mission set out in the magazine’s press kit: “An innovative focus on the diversity and creativity of the region’s ‘peoplescape,’” including focused coverage of LA’s Latino, Asian-American and African-American communities.