Venture capitalist Josh Kushner and his wife, supermodel Karlie Kloss, have reportedly reached a deal to acquire the publishing rights for LIFE Magazine, reviving the iconic photography-based publication more than 20 years after it put out its last print edition.

According to the New York Times, Kushner, founder of Thrive Capital and a major investor in OpenAI, and Kloss are finalizing a deal with IAC subsidiary Dotdash Meredith, which currently owns print and digital rights to the magazine. The deal is being handled through Bedford Media, Kloss’ publishing startup. The final price for the arrangement was not disclosed.

Founded by TIME publisher Henry Luce, LIFE Magazine ran as a weekly print publication from 1883 until 1972. Facing plummeting popularity that largely reduced it to celebrity news and light reading, the magazine published only intermittently, until it was eventually shuttered in 2000. In 2008, its website became an online photo archive.

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Per the Times, the deal was initiated when Kushner, brother of former Trump administration advisor Jared Kushner, approached IAC executive Barry Diller about reviving the publication sometime last year.

“Life’s legacy lies in its ability to blend culture, current events and everyday life — highlighting the triumphs, challenges and unique perspectives that define us,” Kushner said in a statement.

Under the new arrangement, Bedford Media will publish the print editions of LIFE, and DotDash Meredith will maintain rights to the online photo and content archive. It will also publish the magazine’s special single-topic issues.

“We see Life as an uplifting and unifying voice in a chaotic media landscape,” Kloss said.

Last year, Bedford Media purchased style magazine i-D, formerly owned by VICE Media, and had previously attempted to buy out high-end fashion magazine W.

The deal comes at a perilous time in the media industry, with multiple major publications experiencing mass layoffs or shutting down completely in recent months. Publications like The Los Angeles Times, The Washington Post, and The Wall Street Journal have all experienced staffing reductions, while Buzzfeed NewsVICE Media, and The Messenger ceased publication entirely.

The new print editions of LIFE Magazine are expected to begin publication early next year.

Connor Walcott is a staff writer for Follow Connor on X and look for him on VT’s “The Unusual Suspects.”

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