I have a couple of boxes in the next room labelled "MAD imitations," meaning magazines that attempted to replicate the success of (and usually, most of the contents of) MAD Magazine. There have been an awful lot of them, most of which lasted three or less issues. I probably have at least a dozen that ran a grand total of one issue. Even back when MAD was up to a circulation over 2.6 million, the knock-offs couldn't muster enough sales to stick around for long.
Unless you count National Lampoon — and I sure wouldn't — only two managed to stick around for any length of time. Sick lasted for twenty years, though the last five or so were kind of rough…lots of reprints and then it was sold to Charlton, the rock bottom of the business, for its last hurrah. Cracked began in 1958 and published regularly until around 2000 when its issuance became erratic…then it stopped altogether. Soon, it was sold to new owners who revamped it, started publishing again — and quickly stopped. So the batting average for MAD simulations is pretty low. It's probably been just a few years shy of a half-century since anyone started one that ever showed a profit.
Which brings us to the latest in the long, grand tradition. The first issue of Gag! came out in 2004. Did you know about it? I didn't. Another first issue has just been issued but I don't think it's on conventional newsstands. It seems to be sold in comic shops and at the magazine's website. I haven't seen a copy yet so this is not a recommendation…but I'm somehow impressed with the sheer fact that anyone is trying it again. One of these days, it's going to work.