Sports Illustrated to continue print editions under reported 10-year deal with new publisher

Sports activities Illustrated will resume publishing after its proprietor reached a brand new rights cope with digital media firm Minute Media, which can reportedly function the journal for not less than 10 years.

Monday’s announcement comes almost two months after proprietor Genuine Manufacturers terminated its publishing cope with The Area Group, which led to mass layoffs on the venerable sports activities journal.

Minute Media, greatest recognized for its sports activities websites The Gamers’ Tribune and FanSided, mentioned it reached a long-term partnership with Genuine Manufacturers to “usher in the way forward for the [Sports Illustrated] model.”

“Sports activities Illustrated is the gold commonplace for sports activities journalism and has been for almost 70 years throughout each print and digital media. The load and energy of that distinction can’t be understated,” Minute Media founder and CEO Asaf Peled mentioned in an announcement.

“At Minute Media, our focus will likely be to take that legacy into new, rising channels enhancing visibility, industrial viability and sustainable influence, all whereas guaranteeing that the [Sports Illustrated] staff is impressed to flourish on this new period of media,” he mentioned.

There are plans for the publication’s print version to proceed for not less than a decade below its new possession, based on The New York Instances, which first broke the story.

Genuine Manufacturers cut up with The Area Group in late January after the latter missed a $3.75 million US cost for licensing rights.

WATCH | Sports activities Illustrated introduced mass layoffs in January: 

Sports activities Illustrated lays off most of its workers

The proprietor of Sports activities Illustrated delivered layoff notices to most of its workers on Friday after almost 70 years in operation. Whereas it might not imply the tip for positive, the way forward for the journal is unsure.On the time, Genuine vowed that the Sports activities Illustrated model would proceed in some capability.

“We’re assured that going ahead, the model will proceed to evolve and develop in a manner that serves sports activities information readers, sports activities followers and shoppers,” the assertion mentioned.

As a part of the deal, Genuine can even purchase an fairness stake in Minute Media.