Blender Closing The Doors

Unfortunately another magazine is biting the dust. Blender Magazine officially closed up last week with it's last publication. The magazine's parent company will continue to run Maxim.
Blender will be operating solely on the internet and keeping the brand name alive.
see the AdAge article here.

So I'm wondering with all the magazines and newspapers folding, are we witnessing the beginning of the death of print?

I personally say no but I'm curious to hear other thoughts.