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Sports Illustrated to Lay Off Most of Its Employees Amid Licensing Deal

Sports Illustrated to Lay Off Most of Its Employees Amid Licensing Deal

Written by Reananda Hidayat Permono Completed Master of Science - MS, Petroleum Geology from Curtin University, Perth, Australia.

The publisher of Sports Illustrated, The Arena Group, plans to lay off most or all of its journalists and staff, putting its future in doubt.

The publisher of Sports Illustrated, The Arena Group, plans to lay off most or all of its journalists and staff, putting its future in doubt.

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The Arena Group failed to pay its licensing fees to the magazine’s parent company. The magazine’s owner Authentic Brands Group stated that it ended its licensing agreement with The Arena Group

The Arena Group failed to pay its licensing fees to the magazine’s parent company. The magazine’s owner Authentic Brands Group stated that it ended its licensing agreement with The Arena Group

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However, it committed to the 70-year-old magazine’s continued publication.

However, it committed to the 70-year-old magazine’s continued publication.

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Authentic said the deal was terminated since the company failed to pay its quarterly license fee despite receiving a notice of breach and an opportunity to cure the breach.

Authentic said the deal was terminated since the company failed to pay its quarterly license fee despite receiving a notice of breach and an opportunity to cure the breach.

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The Area Group said it’s in talks with Authentic and continue to print Sports Illustrated “until the problem is resolved.”

The Area Group said it’s in talks with Authentic and continue to print Sports Illustrated “until the problem is resolved.”

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In a statement on Friday, the union that represents 82 Sports Illustrated employees said staff members were at risk of being laid off.

In a statement on Friday, the union that represents 82 Sports Illustrated employees said staff members were at risk of being laid off.

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The news comes a day after The Arena Group announced a huge reduction, citing missed payments and “substantial debt.”

The news comes a day after The Arena Group announced a huge reduction, citing missed payments and “substantial debt.”

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The union noted that those missed payments prompted Authentic Brands Group to pull the publishing license.

The union noted that those missed payments prompted Authentic Brands Group to pull the publishing license.

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According to some news, the company recently missed a $2.8 million payment to Authentic.

According to some news, the company recently missed a $2.8 million payment to Authentic.

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In November 2023, Sports Illustrated grabbed headlines when it got accusations of publishing stories generated through AI under the photos and names of fake journalists.

In November 2023, Sports Illustrated grabbed headlines when it got accusations of publishing stories generated through AI under the photos and names of fake journalists.

Designed by Alexander Rabu

Designed by Alexander Rabu