Sports Illustrated's Revival with New Ownership Sparks Hope for Future

Sports Illustrated will not be shutting down. Instead, the beloved sports magazine is getting a fresh start thanks to a new publishing deal. Authentic Brands Group, the owner of the magazine's intellectual property rights, has announced this exciting news on Monday.

The recent news, initially reported by The New York Times, marks the end of a chaotic period for Sports Illustrated. This period included extensive job cuts, a scandal involving artificial intelligence, and the departure of top-level executives.

In January, The Arena Group, which had been responsible for publishing Sports Illustrated since 2019, stopped paying Authentic the licensing fee for publishing rights. In response, Authentic revoked Arena's license to publish the magazine, leading to a state of turmoil within the organization. Arena then informed its employees that most of them would be laid off, creating uncertainty about the future of Sports Illustrated.

Authentic has found a new publisher in Minute Media, a sports-focused content company known for brands like The Players’ Tribune and FanSided.

Minute Media plans to continue the print edition of Sports Illustrated while also aiming to guide the magazine towards a successful digital future. Asaf Peled, founder and CEO of Minute Media, expressed the company's commitment to expanding the magazine's legacy through new digital channels, increasing visibility, commercial success, and long-term impact. The goal is to inspire the Sports Illustrated team to thrive in the evolving world of media.

"Sports Illustrated has been the leading authority in sports journalism for almost 70 years, covering both print and digital platforms," Peled emphasized. "The significance and influence of this title should not be underestimated."

Editor's P/S:

The news of Sports Illustrated's resurgence is a beacon of hope for sports enthusiasts and journalism advocates alike. The magazine's struggles in recent years have been well-documented, but the arrival of Minute Media as its new publisher signals a renewed commitment to quality sports journalism. Minute Media's track record in the digital realm, coupled with its respect for Sports Illustrated's legacy, offers a promising path forward for the iconic publication.

However, the challenges facing Sports Illustrated should not be overlooked. The media landscape has undergone a seismic shift in recent years, and the magazine must adapt to the evolving consumption habits of its audience. Minute Media's expertise in digital content and its ability to harness the power of social media will be crucial in ensuring Sports Illustrated's relevance in the years to come. The magazine's print edition remains a cherished tradition, but it must find ways to complement its digital offerings and appeal to a broader spectrum of readers.