The story goes that, since Warren Publishing's fortunes seemed to be somewhat taking a downturn in about 1968-69, the time was ripe for competitors to spring up. One more publication arose to titillate horror-comics mag buyers, and it had some top-notch (though largely young and unheralded) talent doing the art.
Publisher Robert Sproul (Cracked) hired editor Terry Bisson to create a horror-comics magazine to go toe-to-toe directly with Warren. Bisson hired a group of talented young men to illustrate stories, most of which he himself wrote (for the first issue, anyway). The artists included such names as Jeff Jones, Berni Wrightson, Mike Kaluta, and Bruce Jones: names that would soon become famous within the comics community for their work with DC Comics' line of horror titles (which hadn't quite got started yet).
Wrightson and Bruce Jones were to be the editors of the fourth issue, but one day when they went for a conference with Sproul, they found he was gone, along with a lot of the material for the never-completed issue. It was a real blow, not only to the creators involved, but also to the comics community who expected really big things from this upstart magazine. Who knows? The history of 70's horror comics, and of comic magazines, might have been changed.