In a recent turn of events, the future of Sports Illustrated and the jobs of its employees have been thrown into uncertainty. The Arena Group, which operated Sports Illustrated and its related properties, announced in an email to staff that its license to maintain the brand's print and digital products had been revoked. As a result, layoffs were imminent for those working on the Sports Illustrated brand.
However, Authentic Brands Group, the owner of Sports Illustrated, has stated its intention to keep the brand alive. Negotiations are currently underway between Authentic, Arena, and other publishing entities to determine the future of the publication. The exact number of jobs affected by these developments remains unclear.
The employee union of Sports Illustrated expressed concern over the initial layoffs announced by Arena, stating that they could potentially impact a significant number, if not all, of the NewsGuild workers represented. The union has vowed to continue fighting for fair treatment of workers and for the preservation of the publication's standards.
Authentic Brands Group has assured the public that it is committed to the continued publication of Sports Illustrated and its growth as a brand. The company aims to ensure the preservation of the publication's integrity and serve its audience of sports news readers and fans. Meanwhile, the Arena Group has stated its intention to sustain the delivery of quality content during ongoing discussions with Authentic.
It is worth noting that this is not the first hurdle that Sports Illustrated has faced in recent years. The publication was acquired by Meredith Publishing in 2018 as part of the purchase of Time Inc. However, less than a year later, Meredith sold the magazine's intellectual property to Authentic for $110 million. Since then, Sports Illustrated has undergone various changes, including a reduction in publication frequency.
The future of Sports Illustrated remains uncertain as negotiations between Authentic Brands Group, Arena, and other publishing entities unfold. Both the employees and the loyal audience of Sports Illustrated will be eagerly awaiting further developments in the coming weeks and months.