Sports Illustrated: A New Lease of Life through Authentic Brands Group and Minute Media
Sports Illustrated, the esteemed sports magazine known for its iconic cover photos and in-depth journalism, is not ceasing operations as previously speculated. Instead, it is set to receive a new lease of life under a publishing deal announced by Authentic Brands Group (ABG).
Background and Turmoil:
The past few months have been tumultuous for Sports Illustrated, leading to widespread layoffs, an artificial intelligence scandal, and the departure of senior executives. In January 2023, The Arena Group – which had published Sports Illustrated since 2019 – failed to pay Authentic the licensing fee for publishing rights. As a result, Authentic pulled The Arena Group’s license to publish the magazine, causing uncertainty about its future and resulting in mass layoffs at The Arena Group.
New Beginnings:
After an extensive search for a new publisher, Authentic Brands Group has found a suitable partner in Minute Media. The content company, which focuses on sports and is the home to several other notable brands like The Players’ Tribune and FanSided, will now publish Sports Illustrated.
Continuity and Digital Transformation:
Minute Media intends to continue the print edition of the magazine while also ushering Sports Illustrated into a lucrative digital future. Asaf Peled, Founder and CEO of Minute Media, expressed his excitement in a statement: “The focus will be on taking its legacy into new, emerging channels, enhancing visibility, commercial viability, and sustainable impact. All while ensuring that the SI team is inspired to flourish in this new era of media.”
The Importance of Sports Illustrated:
Peled further emphasized Sports Illustrated’s significance, stating, “Sports Illustrated is the gold standard for sports journalism and has been for nearly 70 years across both print and digital media. The weight and power of that distinction cannot be understated.” This new deal signifies a new era for the iconic sports magazine, ensuring its continuity while adapting to the evolving media landscape.
