Sports Illustrated, the iconic sports journalism brand, will continue operations under new management as Minute Media takes over publishing duties. This change comes after Authentic Brands Group revoked The Arena Group’s publishing license due to missed payments, leading to negotiations with various entities over the past two months.
Minute Media, known for online sites like The Players’ Tribune and FanSided, will now also manage Sports Illustrated's print and digital products. As part of the agreement, Authentic will acquire an equity stake in Minute Media, though specific terms of the deal were not disclosed.
The transition raises questions about the future of Sports Illustrated's staff, with Minute Media set to meet with employees in the coming weeks to determine staffing levels. Co-Editor in Chief Stephen Cannella assured employees in a memo to continue operating as usual for the time being.
The move marks a new chapter for Sports Illustrated, which has faced challenges in recent years following ownership changes. Originally started in 1954, the magazine was acquired by Meredith Publishing in 2018 before being sold to Authentic Brands Group for $110 million less than a year later.
Authentic Brands Group aims to protect Sports Illustrated's legacy and journalistic integrity through this partnership with Minute Media. The new publisher is expected to bring fresh perspectives and enhanced visibility to the brand, positioning Sports Illustrated for success in the evolving media landscape.
Overall, the agreement between Minute Media and Authentic Brands Group signals a new direction for Sports Illustrated, with a focus on maintaining its reputation as a premier source for sports journalism. Time will tell how this partnership will impact the future of the iconic publication.