According to Billboard, Complex Media announced to staff earlier today that their December/January 2017 print magazine (featuring Pusha T and Sofia Richie on its covers) would be the last. The announcement coincided with layoffs in the marketing and sales divisions, as well as art staff and members of the editorial team.

The company provided a statement to Billboard on their future plans.

"As Complex embarks on a rapid expansion of premium video creation across the company’s networks and with a growing list of distribution partners, the company is reallocating certain positions to address its content needs," it reads. "We’re deeply committed to the ongoing evolution of our brand and our long-term plan to be a leader in digital video entertainment. While we’re reducing staff in some areas, we plan to increase to meet our needs in others."

Earlier this year, it was announced that Complex had been acquired by Hearst and Verizon, at which point the brand's value was said to be $250-300 million.