Sports Illustrated is SAVED as ‘licensing giant Authentic strikes 10-year deal to keep publishing magazine and website’ – months after mass layoffs and AI controversy plunged its future into doubt
Sports Illustrated was saved when licensing giant Authentic struck a 10-year deal with digital media company Minute Media to continue publishing the magazine/website, two months after mass layoffs and AI controversies left its future in doubt.
Minute Media, best known for its sports sites The Players’ Tribune and FanSided, said Monday it has entered into a long-term partnership with Authentic Brands to “usher in the future of the SI brand.”
‘Sports Illustrated is the gold standard for sports journalism and has been for almost 70 years in both print and digital media. The weight and power of that distinction cannot be underestimated. At Minute Media, our focus will be on bringing that legacy to new, emerging channels that increase visibility, commercial viability and sustainable impact, while ensuring the SI team is inspired to thrive in this new media age” , said the founder and CEO of Minute Media. Asaf Peled said in a statement.
Authentic split with The Arena Group at the end of January after the latter missed a payment for licensing rights.
As part of the deal, Authentic will also acquire an equity stake in Minute Media.
More to follow…