FOR SALE BY (MAGAZINE’S) OWNER Lenny Dykstra’s new for-athletes-by-athletes magazine Players Club, which debuted last week, features a six-page photo spread on a 12,000 square foot Los Angeles area mansion, originally owned by Wayne Gretzky. It happens to be on the market again. It also happens to be owned by Lenny Dykstra, who’s been trying to unload the place. Not that the magazine mentions any of this. [Folio]

Luxury publisher Greenspun Media made a big deal, just two days ago, about its “category crushing” new web portal that was going to make Citysearch look like Web 1.0. (In-sult!) The anchor of its new restaurant-nightlife-events website would be Las Vegas Life, the high-brow glossy for the well to do, extending the luxe brand to the web.

Except now Greenspun chief Michael Carr says the April issue of Las Vegas Life will be its last. So much for luxury publishers riding out the recession.

Is this the future of the Greenspun-Niche Media-Ocean Drive partnership that was hammered out just this quarter? Will Jason Binn’s Gotham chug along as a mere domain name? And what’s to happen to Lenny Dykstra’s The Players Club, a magazine for the sports set by the sports set, from upscale niche publisher Doubledown Media?

It’s this uncertainty of free, heavy paper stock magazines we don’t read that keeps us up at night.