Report: Rolling Stone will retract University of Virginia gang rape story after 'systemic failure'

Rolling Stone magazine will retract its story about an alleged gang rape at a University of Virginia frat and replace it with a review of the story by Columbia University Journalism School, CNN's Brian Stelter reports.

The review was conducted by Journalism School dean Steve Coll and follows significant criticism that has been targeted at Rolling Stone for months.

Many of the details reported in Rolling Stone's original story - including one student's story about her alleged gang-rape at a UVA fraternity - have been disputed and proven unable to verify.

Rolling Stone writer Sabrina Rubin Erdely, as well as the magazine's editors, have been criticized for not reaching out to Phi Kappa Psi, the fraternity accused of perpetrating the gang-rape on UVA student "Jackie."

Stelter, citing sources, reported that Ederly will issue a statement "formally apologizing for her errors and Rolling Stone ... will be taking down the discredited story from the web."

Columbia's audit - which reportedly highlights "systemic failure at the iconic magazine" - will take its place.

In late March, the local Charlottesville, Virginia police chief Tim Longo announced that the department had been unable to confirm any facts in Rolling Stone's article. After the press conference, Phi Kappa Psi announced they are considering legal action over the disproved article.

Here's Stelter's full report: