The Sports Illustrated print edition has a license from Minute Media

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Sports Illustrated’s print edition lives.
Authentic Brands Group on Monday reportedly agreed to a deal with Minute Media — ending a months-long feud with former publisher Arena Group, which had threatened to stop printing the iconic magazine if it wasn’t awarded the license.
Minute Media, the New York-based digital sports media brand whose holdings include The Players’ Tribune and Fansided, will sell a stake in the company to Jamie Salter-owned Authentic as part of the 10-year deal, according to The New York Times.
3 Sports Illustrated’s print edition will live on thanks to a new buyer of the magazine’s licensing rights.
Bill Frakes /Sports IllustratedAsaf Peled, the CEO of Minute Media, guaranteed that fans of the magazine, which set the standard for sports journalism since its launch in 1954, will still be able to find it on newsstands.
“In the current era of digital, it’s still not trivial and quite difficult to build your own brand and get people to know and admire it,” Peled told The Times.
“So once 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.
However, it includes an option to extend the agreement for up to 30 years to coincide with the magazine’s centennial, the Times reported.
Peled also told the Times that his company plans to expand SI’s coverage globally and to rehire some of the staffers that were slated to be fired by Arena.
3 In January, most SI staffers were laid off by parent company Arena Group after it missed a $3.75 million quarterly payment that breached its licensing deal with Authentic Brands.
ZUMAPRESS.comMinute Media will begin running SI and its website this week, Peled added.
Rich Routman, who had run Minute Media from 2016 to 2022 before jumping ship to the Sporting News last year, was brought back as president this month and is expected to run SI, sources told The Post.
The fate of SI’s roughly 80 unionized workers, including marquee writers like L. Jon Wertheim and Tom Verducci, remains unclear.
“With today’s news that Minute Media will be taking over as publisher of Sports Illustrated, SI’s unionized journalists say they welcome the change and look forward to remaining part of the storied brand’s future,” said Emma Baccellieri, staff writer for SI and vice chair for the SI Union.
“We have said from the start that our top priorities are to keep Sports Illustrated alive, uphold the legacy of the institution and protect our union jobs.
We look forward to discussing a future with Minute Media that does that.”The Post reach out to Minute Media for comment.
Authentic, which bought SI for $110 million from Meredith five years ago, confirmed the deal to The Post.
3 Authentic Brands sold the licensing rights to Minute Media, led by CEO Asaf Peled.
Linkedin/Asaf PeledArena Group, which had its license revoked in January after refusing to make a $3.75 million quarterly payment, threatened to kill the print edition after Authentic Brands indicated it was leaning toward awarding the rights to a rival, as The Post reported last week.
It had announced that the last print edition would be in May.
“We were informed that Authentic Brands Group will be transitioning the Sports Illustrated license to Minute Media,” an Arena spokesperson told The Post.
“We have no further details at this point — but will let you know when we have additional information and comment.”Arena’s largest shareholder, the energy drink magnate Manoj Bhargava, had sought to renegotiate the three years left on the original 10-year, $150 million deal with Salter.
“Jamie does not react 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, which had been publishing the magazine and the SI website while seeking to strike a new deal, could be on the hook for a $45 million termination fee.

The print version of Sports Illustrated still exists.

After a months-long dispute with former publisher Arena Group, which had threatened to stop publishing the venerable magazine if it wasn’t granted the license, Authentic Brands Group reportedly agreed to a deal with Minute Media on Monday.

According to The New York Times, as part of the 10-year agreement, Jamie Salter’s company, Authentic, will purchase a portion of Minute Media, a digital sports media brand based in New York that owns Fansided and The Players’ Tribune.

3 A new buyer of the magazine’s licensing rights will ensure the continued existence of Sports Illustrated’s print edition. Sports Illustrated/Bill Frakes.

Minute Media CEO Asaf Peled promised readers they would still be able to find the magazine on newsstands, even after it became the gold standard for sports journalism when it first came out in 1954.

Peled told The Times, “Building your own brand and getting people to know and admire it is still not trivial and quite difficult in the current digital era.”.

“You seize the chance to collaborate with and expand a legendary brand like Sports Illustrated,” the saying goes. “.

The agreement’s terms were kept a secret.

As per the Times, the agreement has a provision to prolong it for a maximum of 30 years, aligning with the magazine’s centennial.

Additionally, Peled told the Times that his company intends to rehire some of the employees that Arena was going to fire and to broaden SI’s coverage globally.

3. Due to a $3.75 million quarterly payment default that violated the terms of the license agreement with Authentic Brands, parent company Arena Group fired the majority of SI employees in January. ZumaPress.com.

This week, Minute Media will launch SI and its website, according to Peled.

This month, Rich Routman—who had led Minute Media from 2016 to 2022 before defecting to Sporting News last year—was reinstated as president and is anticipated to lead SI, according to sources who spoke with The Post.

What would happen to SI’s eighty or so unionized workers, writers such as L. It’s still unknown about Jon Wertheim and Tom Verducci.

“With today’s news that Minute Media will be taking over as publisher of Sports Illustrated, SI’s unionized journalists say they welcome the change and look forward to remaining part of the storied brand’s future,” stated Emma Baccellieri, SI staff writer and SI Union vice chair.

“We have always stated that preserving Sports Illustrated, honoring the organization’s history, and defending our union jobs are our top priorities. We’re excited to talk about a time in the future when Minute Media does that. “.

Minute Media was contacted by The Post to provide feedback.

The Post was informed of the agreement by Authentic, which acquired SI from Meredith five years ago for a sum of $110 million.

Asaf Peled, the CEO of Minute Media, purchased the licensing rights from 3 Authentic Brands. Asaf Peled on Linkedin.

Arena Group threatened to discontinue the print edition after Authentic Brands suggested it was considering giving the rights to a competitor, as The Post revealed last week. Arena Group had its license revoked in January after failing to pay a $3.75 million quarterly fee.

It had stated that May would be the last month for the print edition.

A representative for Arena told The Post, “We were informed that Authentic Brands Group will be transitioning the Sports Illustrated license to Minute Media.”.

“At this time, we do not have any more information. However, we will notify you as soon as we do. “.

The energy drink tycoon Manoj Bhargava, who holds the largest stake in Arena, attempted to renegotiate the final three years of the initial 10-year, $150 million agreement with Salter.

A person with knowledge of the situation told The Post on Monday that Jamie “does not react well to threats.”.

“Jamie is probably not one to trust Bhargava.”. In two years, Manoj might return and breach the agreement once more. “.

Arena could be responsible for a $45 million termination fee; the company had been publishing the magazine and the SI website while attempting to reach a new agreement.

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