End of an Era: Iconic Sports Media Giant Faces Potential Shutdown After 70 Years
Photo credit: Sports Illustrated
In major news, we learned that the end of an era could happen soon for this legendary sports media.
Potential Shutdown for Sports Illustrated
Yesterday, the staff of Sports Illustrated was notified that their employement is nearing an end, after 70 years of publishing.
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"Authentic, the licensing group that purchased Sports Illustrated for $110 million from Meredith five years ago, has terminated the agreement it holds with The Arena Group to publish SI in print and digital, according to an email obtained by Front Office Sports.
That move comes three weeks after Arena missed a $3.75 million payment that breached the company's SI licensing deal, which began in 2019. (Authentic's notice of termination, meanwhile, triggered a $45 million fee due immediately to Authentic, according to an SEC filing on Friday.)"
That move comes three weeks after Arena missed a $3.75 million payment that breached the company's SI licensing deal, which began in 2019. (Authentic's notice of termination, meanwhile, triggered a $45 million fee due immediately to Authentic, according to an SEC filing on Friday.)"
This could mark the end of an era.
Employees received the following email:
They hope to reach a licensing deal within the next 90 days. Meanwhile, if this issue doesn't get resolved, employees can prepare for the worst.
Do you think Sports Illustrated will officially shut down?
As seen on Maple Leafs Daily - Devastating news to share as a major sports news outlet may cease operations after nearly 70 years
| POLL | ||
20 JANVIER | 422 ANSWERS End of an Era: Iconic Sports Media Giant Faces Potential Shutdown After 70 Years Do you think Sports Illustrated will officially shut down? | ||
| Yes | 292 | 69.2 % |
| No | 130 | 30.8 % |
| LIST OF POLLS | ||
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