Rolling Stone magazine

Wenner Media, the company founded by Rolling Stone publisher Jann Wenner, cites a desire "to best position the brand for future growth."

Lawyers for the magazine have reached a confidential settlement with Nicole Eramo over a story about an alleged gang rape on the campus of the University of Virginia, according to The Washington Post.

Last week, the jury found that a story about an alleged gang rape on campus defamed an administrator of the University of Virginia. When claims in the piece were challenged, the magazine retracted it.

Phi Kappa Psi's planned move comes after an independent review found "collective fault" led to the magazine's story about a young woman who said she was gang raped at the University of Virginia.