Sports Illustrated Finds New Home with Minute Media: What This Means for the Future of the Magical Brand

Sports Illustrated is under new management, with Minute Media taking over publishing duties after reaching a 10-year licensing agreement with Authentic Brands Group. The magazine’s future was in jeopardy after its previous licensing agreement with The Arena Group fell apart earlier this year, leading to layoffs and uncertainty about the print edition’s future.

Authentic Brands acquired Sports Illustrated in 2019, but their previous licensing agreement with The Arena Group fell apart after missed payments earlier this year. This turn of events led to a wave of layoffs at Sports Illustrated, putting the future of the print edition in jeopardy.

However, Minute Media plans to revitalize the magazine’s global operations and has expressed intentions to rehire some of the staff that were let go. The companies have not disclosed financial terms of the deal but have confirmed that operations will resume immediately under the new partnership.

Asaf Peled, the CEO of Minute Media, emphasized the importance of working with established brands like Sports Illustrated in an interview with the New York Times. He cited the challenges of building a brand in the digital space and the opportunity presented by partnering with such an iconic publication. The shift in management signals a new chapter for Sports Illustrated, with potential for growth and exploration in the ever-evolving media landscape.