Sports Illustrated and Minute Media partnership secures print future

Mar 18, 2024

Lauren Taylor Anchor

By Lauren Taylor (Anchor), William Jackson (Producer), Jake Maslo (Video Editor)

This report was created with support from enhanced software.

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In a strategic move designed to stabilize and expand its operations, Sports Illustrated is partnering with digital media company Minute Media. This collaboration marks a significant shift in the magazine’s publishing rights, now secured by Minute Media for the next 10 years, with an option to extend the agreement for up to three decades.

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The decision comes on the heels of challenges with the Arena Group — the magazine’s previous operator — which failed to fulfill a $3.75 million payment obligation. The lapse prompted Authentic Brands Group (ABG), the holder of Sports Illustrated’s intellectual property rights, to terminate its existing publishing agreement with the Arena Group, leading to substantial job losses in January.

https://twitter.com/MinuteMediaLTD/status/1769714880070750247

Asaf Peled, the founder and CEO of Minute Media, has emphasized the company’s commitment to uphold the high standards of journalism Sports Illustrated is known for.

“At Minute Media, our focus will be to take that legacy into new, emerging channels enhancing visibility, commercial viability and sustainable impact, all while ensuring that the SI team is inspired to flourish in this new era of media,” Peled said.

The acquisition not only aims to ensure the print edition’s continuation but also seeks to broaden Sports Illustrated’s global presence. Minute Media — which owns other sports and culture content brands such as The Players’ Tribune and FanSided — plans to reinstate some of the employees laid off under the previous management, signaling a new chapter for the sports journalism brand.

Tags: Journalism, Sports, Sports Illustrated

[LAUREN TAYLOR]

SPORTS ILLUSTRATED IS FLIPPING THE PAGES ON A NEW PLAYBOOK AND READY TO TACKLE THE NEXT DECADE.

THIS MOVE AIMS TO CALM RECENT CONCERNS AND MAKE SURE SPORTS ILLUSTRATED’S PRINT EDITION HAS A SECURE FUTURE. MINUTE MEDIA, WHICH ALSO OWNS THE PLAYERS’ TRIBUNE AND FANSIDED, NOW HAS THE RIGHTS TO PUBLISH SPORTS ILLUSTRATED FOR THE NEXT DECADE, WITH THE POSSIBILITY OF EXTENDING IT TO 30 YEARS.

THIS COMES AFTER ARENA GROUP – WHICH OPERATED SPORTS ILLUSTRATED – FAILED TO MAKE A 3.75 MILLION DOLLAR PAYMENT, PROMPTING AUTHENTIC BRANDS GROUP, WHICH OWNS THE RIGHTS TO S-I’S INTELLECTUAL PROPERTY TO END THE PUBLISHING AGREEMENT WHICH RESULTED IN SIGNIFICANT JOB CUTS AT THE PUBLICATION EARLIER THIS YEAR.

THE CEO OF MINUTE MEDIA, EXPRESSED HIS COMMITMENT TO MAINTAINING SPORTS ILLUSTRATED’S HIGH STANDARDS IN JOURNALISM AS THEY EXPLORE NEW MEDIA CHANNELS.

[MINUTE MEDIA CEO]

[LAUREN TAYLOR]

ACCORDING TO THE CEO, MINUTE MEDIA WILL EXPAND SPORTS ILLUSTRATED’S PUBLISHING OPERATIONS GLOBALLY AND PLANS TO REHIRE SOME STAFF THAT WERE PREVIOUSLY LAID OFF.