Authentic Brands Group, a brand development, marketing and
entertainment company, has bought the intellectual property of Sports
Illustrated from Meredith.
“We are
honored to welcome Sports Illustrated to the ABG family,” said Jamie Salter,
founder, chairman and CEO of ABG. “As one of the most iconic brands in sports
media, SI is a cultural centerpiece with massive opportunities for growth
across its burgeoning digital, TV and social platforms and industry-leading
print magazine. SI's trusted name and fiercely devoted following set the stage
for the brand to become a leader in lifestyle and entertainment.”
ABG is
taking over the marketing, business development and licensing functions for the
Sports Illustrated intellectual property and brand, while the print magazine
and SI.com will
maintain editorial independence and continue to operate under the leadership of
Meredith and Editor-in-Chief Chris Stone and Publisher Danny Lee.
In a memo
to staff, Stone wrote that the magazine aims to capture larger audiences on
other platforms, including video games, live events and gambling, NPR reported.
Meredith
acquired Sports Illustrated as part of its purchase of Time Inc. in late 2018.
Shortly thereafter, Meredith announced it was selling certain Time news and
sports brands. Married couple Marc Benioff, a Salesforce co-founder, and Lynne
Benioff bought Time. Entrepreneur Chatchaval Jiaravanon bought Fortune magazine.
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