New York
CNN
—
Sports activities Illustrated isn’t shutting down, in spite of everything.
The long-lasting sports activities journal is ready to get new life beneath 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 synthetic 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 could lay off most of its staff, 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 residence to a number of different notable manufacturers, reminiscent of The Gamers’ Tribune and FanSided.
Minute Media stated that whereas it can 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 target will probably be taking its legacy “into new, rising channels enhancing visibility, industrial viability and sustainable impression, all whereas making certain that the SI group is impressed to flourish on this new period of media.”
“Sports activities Illustrated is the gold customary for sports activities journalism and has been for almost 70 years throughout each print and digital media,” Peled stated. “The burden and energy of that distinction can’t be understated.”