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The rumors were true, kind of: Kendall Jenner is on the cover of Vogue, but it's a special issue for April devoted entirely to Kendall. It's 52 pages of Kendall, according to WWD.
The Vogue x Kendall special issue has only one advertiser, Estée Lauder. Jenner stars as the face of Estée Lauder but Vogue told WWD that this issue is editorial as opposed to sponsored, and it was created by the magazine’s editors. The pieces that appear are a mix of new and repurposed content.
Subscribers in New York and Los Angeles will find the special issue packaged along with their Rihanna's Vogue issue. The cover is shot by Mario Testino; there's only one story in the issue and you can read it here. There's a Vogue video of Kendall and Gigi Hadid dancing around in Chanel Couture to Grimes as well.
Update: This special onsert with Kendall Jenner is a first of its kind for Vogue. It won't be available at newsstands at all, only to subscribers in NY and LA along with the April issue of the magazine as well as online at Vogue.com.