Sports Illustrated isn't dead yet.
The iconic publication has been put on life support after it was revealed on Friday that the Arena Group, which runs its editorial operations, will be making almost its entire staff redundant after its permission to use the SI name has been revoked. It's in the device.
Both The Arena Group and Authentic, which owns the brand, have said they intend to continue operating the website and magazine, but it is not yet clear how.
“We will continue to operate Sports Illustrated.” said Matt Lombardi of Arena Group.. “Arena or someone else will get the license to operate Sports Illustrated.”
genuine representative made a terrible announcement The company plans to continue its editorial operations for Sports Illustrated and will potentially transition to a new publishing partner.
“This is not going to turn dark,” the representative said. “While this is not an ideal situation by any stretch of the imagination, Authentic is determined to protect our brand and provide control. This includes making sure that we can continue to do so.”
Authentic did not know about the layoffs in advance.
“The dismissal is not Authentic’s, but Arena’s,” the representative said. “This is not something we know about.”
according to front office sportsAuthentic is already in exploratory talks to find a new publishing partner, Axios reported, with Bridge Media, a media outlet owned by 5 Hour Energy founder Manoj Bhargava. Plans to merge with Arena Group — Still negotiating with Authentic.
a Friday's SEC filing This includes Arena, where Authentic owes $45 million after its SI license was revoked.
Sports Illustrated, which began publication in 1954 and was a bastion of sports reporting and photography during its heyday, was sold by Time Inc. to Meredith and then to Authentic.
It seems like there are plans to continue in some form, but it's unclear what form that will take.
