The publisher of Sports Illustrated is laying off much of the storied magazine's entire staff. The news, first reported by Front Office Sports, came less than 24 hours after publisher The Arena Group announced "a significant reduction in its workforce," comprising 100 employees. According to FOS, Sports Illustrated's parent company, Authentic Brands Group, has sought to revoke Arena's license to publish SI after Arena missed a payment. The union representing SI's staff said in a tweeted statement that it had been notified of Arena's intention to "lay off a significant number, possibly all" of its union-represented staff. "This is another difficult day in what has been a difficult four years for Sports Illustrated under Arena Group (previously The Maven) stewardship," the union said in a statement.

---

Persons: Richard Deitsch, Long, Ross Levinsohn, Manoj Bhargava, Bhargava Organizations: Sports Illustrated, Front Office Sports, Arena, Authentic Brands, The, Arena Group, SI, Authentic Brands Group, NBC News, Time Inc, Meredith Corp, Better Homes, Gardens, Sports, Innovations Ventures, Men's, Sports Illustrated Resorts Locations: Dominican Republic