The Arena Group May Continue Producing 'Sports Illustrated': Report
- by Ray Schultz , February 13, 2024
The Arena Group hopes to reach an agreement with Authentic Brands Group that would allow it to continue publishing Sports Illustrated, the company stated in an SEC filing last Friday, Sportico reports.
Authentic Brands Group, which owns Sports Illustrated, revoked The Arena Group’s right to publish SI after the latter had missed a $3.75 million payment.
On January 19, all members of the SI union were told they would be laid off because Authentic Brands Group had revoked Arena’s license to publish the title, the union states.
According to Sportico, Arena has forecast $5-$7 million in “total restructuring charges,” including termination fees.
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