Authentic Brands buys Sports Illustrated for $110m
Meredith Corp will continue to publish the Sports Illustrated print magazine and manage its website for at least two years
Los Angeles, US — Sports Illustrated, long a crown jewel of the publishing world, was sold for $110m to Authentic Brands, which looks to make money licensing out the iconic name. Current owner Meredith Corp is unloading the magazine as part of an effort to sell Time titles that do not fit with its other publications. But Meredith will continue to publish the Sports Illustrated print magazine and manage its website for at least two years. It also will oversee advertising, video and social media for the brand. Authentic Brands, meanwhile, will seek licensing deals that could slap the Sports Illustrated name on everything from consumer goods to sports-gambling services. “Sports Illustrated’s trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment,” Authentic Brands CEO Jamie Salter said in a statement. Like other print publications, Sports Illustrated has lost lustre in the age of online journalism. Sports magazines face...
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