Sports Illustrated lays off most of its staff, union says
Sports Illustrated will remain in physical form after its parent company on Monday announced a new publisher for the famed sports magazine.
Authentic Brands Group (ABG) said that Israel’s Minute Media had secured the publishing rights for Sports Illustrated. The magazine will stay under ABG’s ownership, but Minute Media will take over responsibility for printing Sports Illustrated, Sports Illustrated Swimsuit and Sports Illustrated Kids. The deal is for 10 years with an option to extend for another 30 years, the New York Times reported.
The companies did not disclose financial terms of the deal.
Sports Illustrated was launched by Time Inc. owner and publisher Henry Luce in 1954. For decades, the weekly print publication was considered a benchmark for sports journalism, scooping up national magazine awards and influencing several generations of sportswriters.
Minute Media plans to build on Sports Illustrated’s legacy by enhancing the publication’s
Sports Illustrated to live on, now with new publisher in tow
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