Time Inc. yesterday folded SI Latino, the Spanish-language spin-off of Sports Illustrated, the second time this week the magazine giant has pulled the plug on one of its titles.

“I can confirm it is going on hiatus,” said an SI spokesman. “We hope to bring it back when the economy improves.”

The magazine, which was launched in 2005 and was published six times a year, was a favorite of Sports Illustrated Group Editor Terry McDonell. It was distributed free to 500,000 people.

Put together mainly with freelancers, just one person will be out of work with the shutdown.

Earlier this week, Time Inc. shut down Cottage Living.