Minute Media now holds the publishing rights for Sports Illustrated after a turbulent period for the long-standing sports publication, as confirmed by owner Authentic Brands Group (ABG).
Minute Media, the home of The Players’ Tribune, FanSided, 90min, and other publications, will be in charge of all digital and print editorial operations for the Sports Illustrated portfolio. The company has entered into a long-term partnership with ABG.
According to the New York Times, the licensing deal was first reported on Monday and will last for 10 years, with an option to extend for up to a total of 30 years.
The chief executive of Minute Media, Asaf Peled, aims to continue the print edition of Sports Illustrated and rehire some of the recently laid off staff, as reported by The Times.
Peled expressed the significance of Sports Illustrated in sports journalism and outlined Minute Media's plan to carry on the legacy while exploring new channels for visibility and commercial success. He also emphasized the inspiration and growth of the SI team in the evolving media landscape.
Daniel W. Dienst, Authentic’s Executive Vice Chairman, Tactical Ops, stated that Minute Media will uphold SI’s acclaimed legacy and exceed fan expectations, while carrying the brand through a rapidly changing media environment. Dienst emphasized Authentic's commitment to preserving SI's integrity and longevity, highlighting Minute Media's leadership in the new era of sports storytelling.
As part of the deal, ABG will be obtaining an undisclosed equity stake in Minute Media.
The Arena Group, which had been managing the magazine since 2019, had its license revoked by ABG in January, resulting in the layoff of all editorial staff and the discontinuation of the print version of the magazine.
This new deal with Minute Media signifies a change in direction, removing The Arena Group from the magazine's publication.
