OAN’s Abril Elfi
9:09 AM – Saturday, January 20, 2024
Sports Illustrated’s publisher intends to fire the majority of its staff journalists after struggling to pay the magazine’s parent company’s licensing fees.
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The owner of the magazine, Authentic Brands Group, announced in a statement on Friday that it had terminated its license with the publisher, The Arena Group, to publish Sports Illustrated but that it was still committed to the publication of the seventy-year-old magazine.
“We are confident that going forward, the brand will continue to evolve and grow in a way that serves sports news readers, sports fans, and consumers,” it added in the statement.
Authentic said it terminated the deal “as a result of the company’s failure to pay its quarterly license fee despite being…
