New York, July 1 : A British magazine has reportedly been slammed for putting a ghoulish "last" picture of Michael Jackson on the cover of its latest edition.

OK! magazine was said to have shelled out more than 500,000 dollars on the shot showing the King of Pop on a stretcher and possibly dead.

"Media buyers have canceled upcoming meetings to discuss rates. It''s a disgrace. They''ve sunk to a new low," the New York Post quoted a source as saying.

Sean Combs and Jay-Z were also reportedly fuming and considering a "boycott".

However, a representative for the journal said: "This is untrue. No one at OK! has been contacted about any such cancellations as a result of the magazine''s coverage of this news event. Any pages booked by the advertising team are running as scheduled."

Combs'' representatives said: "Not true."

Jay-Z''s representatives were unavailable for comment. (ANI)