We hope you have a few minutes for this breaking news/fresh rumored gossip on the magazine front. Take a seat, grab some M&M's … this might take a minute.

Smokey Fontaine, best known for his most recent stint as EIC of America, the downtown but high end urban fashion and music mag, has been snagged for the top spot over at Giant. It is a position which has been vacant since Mark Remy (now of Office Pirates) left in April, and which oversized shoes Fontaine hopes to fill.

"We need to be big and feel big in a different way," Fontaine stated. To do that, he'll bring more boldness, both in the photography and the edit, a heightened focus on music reporting, and help attract more A-list celebrities to its pages. Fontaine's first full issue will be its August/September edition.

No word yet as to what will be happening with America (and honestly we would be worried about the employees … except for the fact that the entire office was run by unpaid interns). Luckily for Mr. Fontaine, he won't have to worry about those issues over at Giant — nor will he have to live in fear of his former publisher Damon Dash coming into his office and beating the crap out of him.

Rumor also has it that Giant is working out a merger with Complex, a mag that reaches out to those 10 people who can't get enough of that Ashton Kutcher hip-hop hipster style.

Giant could be looking towards the mag in order to bring a music edge to the pub, in which case Fontaine is a natural choice to guide the Giant sails — and hopefully raise those other (15% newsstand) sales as well.

Giant hires Fontaine as editor in chief [Stephanie D. Smith, Media Week]
"Giant" Merger Rumors — New Editor-in-Chief [Magazine Death Pool]