Uncertain Future for Sports Illustrated as Publisher Lays Off Staff
New York, CNN — The iconic Sports Illustrated magazine and website face an uncertain future as its publisher, Authentic Brands Group (ABG), has laid off most or “probably all” of its guild-represented staff, according to the union representing the employees. The publisher’s memo to staff, obtained by CNN, confirms the layoffs of staff working on the SI brand.
ABG acquired SI in 2019 and subsequently sold the publishing rights to Arena Group. However, Arena Group missed a recent payment for these rights, prompting ABG to revoke them. The situation has raised concerns about the continuity and legacy of SI, a prominent name in sports journalism for nearly seven decades.
The union expressed its dismay and called on ABG to ensure the continued publication of SI and allow it to serve its audience as it has for almost 70 years. They also emphasized the importance of fair treatment for all employees.
ABG’s Commitment
ABG, in its statement, affirmed its commitment to the continuation of Sports Illustrated, but details regarding the execution of this commitment remain unclear. The termination of Arena’s license was attributed to their failure to pay the quarterly fee despite receiving a notice of breach and an opportunity to rectify the situation.
ABG expressed its intention to ensure the thriving of the SI brand, including its editorial arm, and to maintain the integrity of its legacy. Arena Group and Manoj Bhargava’s spokesperson have not yet responded to requests for comment.
Union’s Resilience
The union expects Arena Group to honor the union contract and treat all employees fairly. They have emphasized their commitment to maintaining the standards of SI and ensuring fair treatment for their workers.
The past few months have been challenging for SI, with the firing of CEO Ross Levinsohn after an embarrassing incident involving fake author names and AI-generated profile photos. Manoj Bhargava, the founder of 5-Hour Energy and majority stakeholder in Arena Group, replaced Levinsohn as interim chief executive.
Contributors to this report from CNN include Oliver Darcy and Liam Reilly.
Conclusion
The future of Sports Illustrated remains uncertain, with ABG’s commitment to its continuation lacking specific details. The layoffs and challenges faced by the publication have raised concerns among its staff, union, and audience. As the situation evolves, the legacy and integrity of SI are at stake, and the outcome will determine the fate of one of the most recognized names in sports journalism.