The Flyleaf publishing group, which includes The Atlantic and Vice, is being sold to The Associated Press by the Hearst family, according to a news release issued Friday.
The sale is subject to approval by Hearst, which owns Hearst Media Group, and is expected to close by the end of the year.
Hearst’s decision means that The Atlantic will continue to publish at least some of its current work in print.
The AP and The Wall Street Journal are still the only U.S. newspapers to have published at least one issue of The Atlantic.
The news release said the sale will also include Hearst Publishing’s publishing arm, The Hearst Group.
Hearsts announcement did not say when or how the news of the sale would be made public.
The group had been run by Hearsts family since it was founded in 1976.
The Hearst estate owns the Associated Press and has been under scrutiny since Hearst announced he was selling the news organization in April.
The Associated Media has sued Hearst for defamation, claiming that it published negative stories about the Hearsts that the Hearsteins themselves wrote.
The lawsuit is pending.
Hearst has denied the allegations and said he never made the comments.
The company’s share price has been on a tear since then, rising more than 50% in the first five months of this year.
Hearing has said the decision to sell was driven by the AP’s desire to grow its portfolio and the growing importance of the AP to Hearsts business.
The news of Hearst and his family’s decision to exit The Associated Post came after Hearst told The Wall St. Journal that he was ready to sell the company and its assets to the Hearstein family.
The move comes on the heels of the news that Hearst is retiring from his role as president of Hearstein Properties, which holds a 20% stake in the company.