In an email to employees Friday morning, the Arena Group, which operates Sports Illustrated and related properties, said that Authentic Brands Group has revoked its marketing license.
“As a result of this license revocation, we will be laying off staff that work on the SI brand,” the email said.
Sports Illustrated's employee union said in a statement that the layoffs would be a significant number and possibly all, of the NewsGuild workers represented.
Less than a year later, Meredith sold the magazine's intellectual property to Authentic Brands Group for $110 million.
Once a weekly publication, SI was reduced to biweekly publishing in 2018 and became a monthly in 2020.
Persons:
Mitch Goldich, Ross Levinsohn, Meredith, ABG, Marilyn Monroe, Elvis Presley, Muhammad Ali, ___
Organizations:
Sports, Arena Group, Authentic, Authentic Brands, SI, Group, Meredith Publishing, Time Inc, Reebok
Locations:
ABG