In a groundbreaking move, the owner of Sports Illustrated has announced a new partnership with Minute Media to publish the iconic magazine, signaling a potential resolution to recent tensions within the publication. Authentic Brands Group, the entity holding the intellectual property rights to Sports Illustrated, has agreed to license its publishing rights to Minute Media, a digital-media company specializing in sports content.
The licensing agreement is set to span 10 years with an option to extend for up to 30 years, marking a significant long-term commitment between the two companies. Notably, the deal also includes Sports Illustrated’s Swim brand, showcasing a comprehensive approach to the publication’s future. While financial terms were not disclosed, Authentic Brands Group is set to acquire a stake in Minute Media as part of the agreement.
This strategic move comes amidst a period of uncertainty for Sports Illustrated, which has been embroiled in turmoil due to conflict between the magazine’s owner and the current management team. Arena Group, the digital-media company overseeing the publication since 2019, is now relinquishing control in favor of Minute Media. Asaf Peled, CEO of Minute Media, expressed a commitment to maintaining Sports Illustrated’s print edition, reaffirming the magazine’s legacy that dates back to its inception in 1954.
The transition to Minute Media signals a new era for Sports Illustrated, offering a fresh perspective and renewed focus on delivering high-quality sports journalism. With plans to expand globally and rehire laid-off employees, Minute Media aims to enhance the publication’s digital presence while preserving its renowned tradition of in-depth reporting. The partnership between Sports Illustrated and Minute Media represents a promising collaboration that is poised to shape the future of sports media for years to come.
