Media

The print edition of Sports Illustrated is alive.

Authentic Brands Group reportedly struck a deal with Minute Media on Monday, ending a months-long feud with former publisher Arena Group, which had threatened to stop printing the iconic magazine if it did not get the license.

Minute Media, the New York-based digital sports media brand that includes The Players’ Tribune and Fansided, will sell a stake in the company to Jamie Salter-owned Authentic as part of the 10-year deal, The New York Times reported. .

The print edition of Sports Illustrated will live on thanks to a new buyer of the magazine’s licensing rights. Bill Frakes /Sports Illustrated

Minute Media CEO Asaf Peled guaranteed that fans of the magazine, which set the standard for sports journalism since its founding in 1954, will still be able to find it on newsstands.

“In today’s digital age, it is still non-trivial and quite difficult to build your own brand and get people to know and admire it,” Peled told The Times.

“So when you get the opportunity to work with and grow an iconic brand like Sports Illustrated, you take it.”

Terms of the deal were not disclosed.

The deal between Minute Media and Authentic Brands, which SI bought from Meredith five years ago for $110 million, includes an option to extend the agreement for a total of up to 30 years, the Times reported.

Peled also told the Times that his company plans to expand SI’s coverage globally and rehire some of the staffers who would be laid off by Arena.

In January, most SI staff were fired by parent company Arena Group after it missed a $3.75 million quarterly payment that violated its licensing agreement with Authentic Brands. ZUMAPRESS.com

Minute Media will begin operating SI and its website this week, Peled said.

Arena Group, which had its license revoked in January after refusing to make a $3.75 million quarterly payment, threatened to discontinue the print edition after Authentic Brands indicated it was leaning toward awarding the rights to a rival, such as The Post reported last week.

Arena’s largest shareholder, energy drink magnate Manoj Bhargava, attempted to renegotiate the remaining three years of the original 10-year $150 million deal with Salter.

Authentic Brands sold the licensing rights to Minute Media, led by CEO Asaf Peled. Linkedin/Asaf Peled

“Jamie does not respond well to threats,” a source close to the situation told The Post on Monday.

“Jamie probably doesn’t trust (Bhargava). Manoj could come back in two years and break the contract again.”

Arena, who edited the magazine and the SI website while trying to strike a new deal, could receive a $45 million severance package.




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