by Max Winters, Daily Mail:
Sports Illustrated ‘s staff has reportedly been told there will be ‘mass layoffs’
Publication’s owner, Authentic Brands Group, has revoked the publishing license
DailyMail.com provides all the latest international sports news
TRUTH LIVES on at https://sgtreport.tv/
Sports Illustrated‘s staff has reportedly been told there will be ‘mass layoffs’ in a bombshell email on Friday.
It is the latest crisis engulfing the iconic sports publication that was also accused of publishing stories using artificial intelligence just months ago.
The Arena Group – which publishes Sports Illustrated – has informed employees that a ‘significant number, possibly all, of the Guild-represented workers at SI’ will be laid off.
It comes as a result of Authentic Brands Group (ABG), the group that purchased Sports Illustrated for $110million in 2019, ending its agreement with Arena to publish in both print and digital.
Arena missed a $2.8m payment as part of the licensing agreement three weeks ago.
Sports Illustrated ‘s entire staff was told in an email on Friday that they were being laid off
A George Mason University fan holds up a Sports Illustrated magazine at a send off for the team, March 29, 2006
An email from Arena sent to staff on Friday, and reported by Front Office Sports, read: ‘We were notified by Authentic Brands Group (ABG) that the license under which the Arena Group operates the Sports Illustrated (SI) brand and SI related properties has been officially revoked by ABG.
