Sports Illustrated planning significant layoffs after license to use its brand name was revoked
The publisher of Sports Illustrated has notified employees that it plans significant layoffs after its license to use the iconic brand’s name was revoked
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The publisher of Sports Illustrated has notified employees it is planning to lay off a significant portion — possibly all — of the outlet's staff after its license to use the iconic brand's name in print and digital was revoked.
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.
“We have fought together as a union to maintain the standard of this storied publication that we love, and to make sure our workers are treated fairly for the value they bring to this company. It is a fight we will continue,” Mitch Goldich, NFL editor and unit chair, said in a statement.
The guild's statement also called for Authentic Brands Group to “ensure the continued publication of SI and allow it to serve our audience in the way it has for nearly 70 years.”
The Arena Group acquired publishing rights from ABG in 2019 for at least 10 years. The group’s stewardship of SI has had many hurdles since then. In December, it fired chief executive officer Ross Levinsohn when the magazine’s alleged use of AI-generated stories drew public backlash.
The iconic sports brand has had a rough six years. It was acquired by Meredith Publishing in 2018 as part of the purchase of Time Inc., which started the magazine in 1954.
Less than a year later, Meredith sold the magazine's intellectual property to Authentic Brands Group for $110 million. ABG owns the intellectual property of many brands and stars, including Marilyn Monroe, Elvis Presley, Muhammad Ali and Reebok.
Once a weekly publication, SI was reduced to biweekly publishing in 2018 and became a monthly in 2020.
___
AP sports: https://apnews.com/sports
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.