UPDATE: Bauer confirms closure, with the last issue to be on sale on February 25, 2013.
Will weekly fashion title Grazia face the axe?
Ragtrader sister publication AdNews understands that parent company Bauer media will terminate the title.
The firm initially refused to comment on a media report which claimed the firm was to close the struggling title .
A spokesperson said this morning: "We don't comment on gossip."
However, an official announcement is widely anticipated.
The development comes ahead the latest industry circulation figures to be published tomorrow.
The women's fashion and celebrity magazine has suffered significant circulation declines in recent years.
Its figure for the year to December 2011 was 53,792 according to the Audit Bureau of Circulation (ABC).
The most recent readership and circulation figures, released tomorrow, will reveal the magazine's performance in the last 12 months.
Bauer will launch Elle in August.