Authentic Brands Group Purchases 'Sports Illustrated' for $110M USD
Shaking up the sports publishing world.
According to reports, Sports Illustrated has been sold to Authentic Brands Group for $110 million USD. SI is just the latest to join Authentic Brands Group growing portfolio, which saw the addition of Volcom just last month.
The brand-development company currently handles brands like Juicy Couture, Nautica, in addition to holding the licensing and trademark rights to celebrities like Marilyn Monroe, Elvis Presley and Muhammad Ali.
The latest deal sees the rights to market and licenses to Sports Illustrated, its Swimsuit Edition, Kids Edition, “Sportsperson of the Year” franchises and its photo archive transferred over to Authentic Brands Group. SI was sold by Meredith Group who acquired the acclaimed-sports publisher as part of its larger $1.85 billion USD purchase of Time Inc. back in 2017.
Stay tuned for more information as the story develops.
In case you missed it, Toronto fans flooded streets after the Raptors advanced to the NBA Finals for the first time in franchise history.
