The magazine industry is facing one of "its worst beatings in years" amid the economic downturn, circulation declines and general print media weakness. The smart, aspiring media mogul heads straight for the internet rather than try to recreate Spy or some other once-esteemed dead-trees publication, as he might have 20 years ago. But that's not to say running a magazine is without its privileges, particularly for an aggressive owner like BlackBook's Ari Horowitz. Horowitz recently made the tabloids for hosting "shoots" and "casting calls" (ahem) for hot young models at his apartment. And now, says an insider, BlackBook staff snickering at Horowitz's Facebook profile were surprised to discover his shameless conquest of a 22-year-old NYU coed. Horowitz, pictured at left with his young flame, is just about 40. Does she do any work for BlackBook? And are there more pictures of her? Find out after the jump!

• Mary-Kate Olsen is the last person federal investigators want to question before they close the Heath Ledger case. But the 4-foot-11, 90-pounder is refusing to talk unless she's granted immunity from prosecution. [NYP]