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New York
CNN
—
Sports activities Illustrated isn’t shutting down, in any case.
The enduring sports activities journal is ready to get new life underneath a publishing deal introduced Monday by Genuine Manufacturers Group, which owns the journal’s mental property rights.
The information, first reported by The New York Times, caps a tumultuous a number of months for Sports activities Illustrated that resulted in widespread layoffs, a man-made intelligence scandal and the departure of senior executives.
In January, The Area Group, which had printed Sports activities Illustrated since 2019, stopped paying Genuine its licensing charge for publishing rights. In return, Genuine pulled Area’s license to publish the journal, prompting turmoil on the outlet. On the time, Area knowledgeable staffers that it will lay off most of its workers, throwing the way forward for Sports activities Illustrated into jeopardy.
However after looking for a brand new writer, Genuine has discovered one in Minute Media, a sports-focused content material firm that’s house to a number of different notable manufacturers, reminiscent of The Gamers’ Tribune and FanSided.
Minute Media stated that whereas it is going to proceed the print version of the journal, it hopes to additionally usher Sports activities Illustrated right into a profitable digital future. Asaf Peled, founder and chief govt of Minute Media, stated in an announcement the main focus might be taking its legacy “into new, rising channels enhancing visibility, business viability and sustainable impression, all whereas guaranteeing that the SI staff is impressed to flourish on this new period of media.”
“Sports activities Illustrated is the gold normal for sports activities journalism and has been for practically 70 years throughout each print and digital media,” Peled stated. “The load and energy of that distinction can’t be understated.”
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