Contrary to previous reports, DREAM isn't dead just yet.

The Japanese promotion has scheduled a press conference for Thursday to announce a traditional New Year's Eve show later this year. This would mark DREAM's first event since New Year's 2011.

Earlier this year, several news outlets reported that DREAM ceased operations effective immediately, however, the four-year-old promotion is apparently still alive.

Scheduled to appear at the press conference are Japanese fighters Hiroyuki Takaya, Tatsuya Kawajiri and Satoru Kitaoka, who are expected to compete on the Dec. 31 card.

By putting on this event, DREAM will also secure its priority right to book the Saitama Super Arena for NYE 2013, according to veteran MMA manager Shu Hirata.

Thursday's press conference, which will be open to the public, will be streamed live online here at 5:00 a.m. ET.