In a significant shift for one of the most iconic names in sports journalism, Sports Illustrated will maintain its print edition, now under the stewardship of Minute Media. This transition follows a licensing agreement reached with Authentic Brands Group, the current owner of the Sports Illustrated brand.
The Transition of Power
On March 19, 2024, Minute Media officially took the reins after a tumultuous period for Sports Illustrated. Authentic Brands Group had previously terminated The Arena Group’s publishing license due to missed payments, prompting a search for a new publisher. Over the past two months, negotiations unfolded between Authentic and various publishing entities, ultimately leading to this new partnership.
Minute Media’s Vision
Asaf Peled, founder and CEO of Minute Media, expressed excitement about the acquisition, stating, “Sports Illustrated is the gold standard for sports journalism and has been for nearly 70 years. Our focus will be to honor that legacy while exploring new avenues for visibility and commercial success.” The details of the agreement, including its duration, have not been disclosed, but Authentic Brands will take an equity stake in Minute Media, known for its other platforms like The Players’ Tribune and FanSided.
What Lies Ahead for Staff
The future of the Sports Illustrated team remains uncertain. Minute Media plans to engage with SI employees in the coming weeks to assess staffing needs. According to an insider familiar with the situation, discussions about potential layoffs or job retention are on the horizon. Meanwhile, SI co-Editor in Chief Stephen Cannella has encouraged employees to continue their work as usual during this transition period.
Emma Baccellieri, a staff writer and vice chair of the NewsGuild union representing SI employees, reaffirmed the commitment to preserving the magazine’s legacy and protecting jobs. “We aim to keep Sports Illustrated alive and honor its storied history,” she stated in a memo to the team.
A Challenging Road
Sports Illustrated’s journey has been rocky in recent years. Originally acquired by Meredith Publishing in 2018, the magazine underwent several changes, including the sale of its intellectual property to Authentic Brands for $110 million. This decision came on the heels of a controversial period that saw the magazine’s leadership change amid criticism over the use of AI-generated content.
Once a weekly publication, Sports Illustrated saw its frequency cut to biweekly in 2018 and then to monthly in 2020. The challenges have raised questions about its future in an increasingly competitive media landscape.
Looking Forward
As the media landscape evolves, both Minute Media and Authentic Brands express optimism about the future of Sports Illustrated. Daniel W. Dienst, executive vice chairman at Authentic, emphasized the importance of maintaining the magazine’s journalistic integrity while exploring new storytelling avenues under Minute Media’s guidance.
This new chapter for Sports Illustrated invites curiosity about how it will adapt and thrive in the changing world of sports journalism.