Licensing company Authentic Brands buys Sports Illustrated for $110 million, but will leave publishing responsibilities with Meredith Corp.
Authentic Brands will focus on building a licensing empire from the Sports Illustrated name. Photo: Dave Cole/The Wall Street Journal By Jeffrey A. Trachtenberg May 27, 2019 9:02 p.m. ET Meredith Corp. MDP -1.35% agreed to sell Sports Illustrated for $110 million, more than a year after putting it on the block, but that doesn’t mean the fabled sports magazine is leaving the family.
“Sports Illustrated has authority and the respect of athletes all over the world,” said Jamie Salter, founder and chief executive of Authentic Brands. Mr. Salter cited an array of opportunities to strike licensing deals in consumer goods including apparel, as well as potential deals in the emerging sports-gambling marketplace and even the possibility of creating Sports Illustrated stores in airport locations.
Mr. Salter said Sports Illustrated’s photo archive of more than two million images—which is part of the transaction—will be “incredibly valuable” to fashion houses at a time when “fashion, sports and music are colliding much differently than in the past.” Authentic Brands owns such sports-focused brands as Spyder and Prince
“It’s the same type of relationship we have with the Martha Stewart Living brand,” said Jon Werther, president of Meredith’s National Media Group, which includes the magazine titles, digital marketing properties, brand licensing and e-commerce initiatives. “We have very ambitious goals, and two years is the right framework.”
Meredith acquired Sports Illustrated in January 2018 as part of its acquisition of Time Inc. Shortly afterward, Meredith put four news-related titles up for sale.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kevin Durant’s latest online feud is with Chris Broussard of Fox SportsBeing sidelined with a calf injury has only given the Warriors forward more time to react to things people are saying about him on the Internet.
Read more »
Perspective | How empty displays of sports patriotism allow Americans to forget the troopsPerspective: How empty displays of sports patriotism allow Americans to forget the troops
Read more »
How Ferdinand Porsche’s Great-Grandson Is Gearing Up to Disrupt The Sports Car MarketHow Ferdinand Porsche’s great-grandson is gearing up to disrupt the sports car market:
Read more »
Auburn football announcer from famed 'Kick Six' play dies in car crashThe decorated Auburn University football announcer who narrated the team's stunning last-second win over Alabama known as the 'Kick Six' died in a car crash Saturday night, the university said.
Read more »
How Ferdinand Porsche’s Great-Grandson Is Gearing Up to Disrupt The Sports Car MarketInspired by sports cars from the '60s and '70s, Piëch Automotive cofounders Anton Piëch and Rea Stark Rajcic aim to build classic performance automobiles that are anything but retro
Read more »
Racing trailblazer Janet Guthrie reflects on Indy 500 and sexism in motor sportsESPN's latest 30 for 30 film tackles the story of Janet Guthrie, the first woman to compete in the Indianapolis 500 and the Daytona 500.
Read more »
Lakers hire Judy Seto as director of sports performanceThe Lakers have hired Judy Seto as director of sports performance, the team announced Friday. Seto previously worked as head physical therapist from 2011-16.
Read more »
Weekend sports lineup: Motorsports, the NBA playoffs, French Open and moreStart your engines. Here's what to watch for during a sports-packed Memorial Day weekend: 🏀NBA Eastern Conference finals 🎾French Open 🏎️Formula 1 Monaco Grand Prix 🏎️Indianapolis 500 🏎️NASCAR Coca-Cola 600 🏒Stanley Cup Final, Game 1
Read more »
Employee Using Up Sick Days Before Leaving CompanyAll the latest sports coverage from The Onion, America's finest news source.
Read more »