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=== Cancellation === In the fall of 2022, the magazine entered into an agreement with [[online marketplace]] Whatnot to publish the following 12 issues of the magazine.<ref>{{cite news|url=https://www.publishersweekly.com/pw/by-topic/industry-news/publisher-news/article/90521-heavy-metal-inks-publishing-partnership-with-whatnot.html |title=Heavy Metal Inks Publishing Partnership with Whatnot|work=Publishers Weekly|first=Rob |last=Salkowitz | date=Oct 6, 2022}}</ref> Soon afterward, the magazine announced it was "ceasing publication of what they described as the first volume of the magazine, which had been published continuously since 1977. The last issue of the first volume, number 320, was scheduled for publication in late October 2022 and the successor, Volume 2, would be published by WhatNot Publishing starting with issue 1 in February 2023."<ref name=Beat2023>{{cite news|title=The Uncertain Death of Heavy Metal Magazine: A look at what looks like the demise of Heavy Metal magazine, and the strange road that led to this|first=RM|last=Rhodes|work=The Beat|date=Aug 7, 2023|url=https://www.comicsbeat.com/the-uncertain-death-of-heavy-metal-magazine/}}</ref> Amid cash flow problems, however, ''Heavy Metal'' shut down in December 2022. Initially intended to be a temporary suspension, the magazine worked to rectify subscription non-fulfillments and non-payments to artists and vendors. Medney stepped down as CEO, replaced by Marshall Lees and Jamie Penrose.<ref>{{cite web|url=https://www.comicsbeat.com/matthew-medney-steps-down-at-heavy-metal-amid-creator-accusations/|title=Matthew Medney Steps Down at Heavy Metal Amid Creator Accusations: Marshall Lees and Jamie Penrose are taking over operations for now|first=Heidi|last= MacDonald |author-link=Heidi MacDonald|date=Jan 17, 2023|work=Comics Beat}}</ref> In July 2023, with Whatnot's publishing division, Massive Publishing, only having produced one issue of ''Heavy Metal''—#320, released in April of that year and still listing Heavy Metal Entertainment LLC in the indicia—it was announced that the publisher had decided to cancel the magazine and that #320 had been the final issue.<ref>{{cite news|url=https://bleedingcool.com/comics/whatnot-massive-cancels-heavy-metal-will-not-publish-volume-two/ |title=Whatnot Massive Cancels Heavy Metal: Will Not Publish Volume Two|work=Bleeding Cool|date=17 Jul 2023|first=Rich |last=Johnston}}</ref><ref>{{cite news|url=http://www.multiversitycomics.com/news/heavy-metal-canceled/ |work=Multiversity Comics|title='Heavy Metal' Magazine Canceled as Magma Comix Goes Independent|first=Christopher |last=Chiu-Tabet | date=July 19, 2023}}</ref>
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