Iconic Sports Magazine Sold at $110 Million

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Iconic Sports Magazine Sold at $110 Million

The brand and intellectual property of Sports Illustrated magazine have been sold to marketing company Authentic Brands Group for $110 million.

The current owner of the magazine, Meredith Corporation (MDP), will continue to publish the Sports Illustrated magazine and website as it would retain editorial autonomy.

“Sports Illustrated's trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment,” CEO of Authentic Brands Group, Jamie Salter, said in a statement.

Source: Kataeb.org