Sports Illustrated print edition continues after deal with Minute Media

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By journalsofus.com


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A print edition of Sports Illustrated exists.

Authentic Brands Group on Monday reportedly agreed to a settlement with Minute Media – ending a months-long dispute with former publisher Arena Group, which had threatened to stop printing the prestigious magazine if it was not granted a license. Had given.

Minute Media, the New York-based digital sports media brand whose holdings include Players’ Tribune and FanSided, will sell a stake in the company to Jamie Salter-owned Authentic as part of a 10-year deal, according to the New York Times. ,

The print edition of Sports Illustrated will survive due to a new buyer of the magazine’s licensing rights. Bill Frakes/Sports Illustrated

Minute Media CEO Asaf Peled guaranteed that fans of the magazine, which has set the standard for sports journalism since it was founded in 1954, will still be able to find it on newsstands.

“In the current age of digital, creating your own brand and getting people to know about it and appreciate it is still not trivial and quite difficult,” Peled told The Times.

“So once you get the opportunity to work with and grow an iconic brand like Sports Illustrated, you jump at it.”

Terms of the deal were not disclosed.

The deal between Minute Media and Authentic Brands, which bought SI from Meredith five years ago for $110 million, includes an option to extend the agreement for a total of 30 years, the Times reported.

Peled also told the Times that his company plans to expand SI’s coverage globally and re-hire some of the staff that Arena will lay off.

In January, most SI employees were laid off by parent company Arena Group after it missed a $3.75 million quarterly payment, which violated its licensing deal with Authentic Brands. ZUMAPRESS.com

Peled said Minute Media will begin running SI and its website this week.

Arena Group, which had its license revoked in January after refusing to make quarterly payments of $3.75 million, threatened to eliminate the print edition after Authentic Brands indicated it was moving to cede the rights to a rival. is bowing out, as The Post reported last week.

Arena’s largest shareholder, energy drink magnate Manoj Bhargava, sought to renegotiate the three years remaining on the original 10-year, $150 million deal with Salter.

Authentic Brands sold the licensing rights to Minute Media, led by CEO Asaf Peled. LinkedIn/Asaf Peled

“Jamie doesn’t respond well to threats,” a source close to the situation told The Post on Monday.

“Jamie probably doesn’t trust [Bhargava], Manoj can come back in two years and break the contract again.

Arena, which was publishing the magazine and the SI website while trying to work out a new deal, could be on the hook for a $45 million termination fee.




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