‘Sports Illustrated’ Lays Off Entire Staff, Editor Says It’s “A Fight We’ll Continue”

The Arena Group recently missed a $3.75 million payment to the publication’s license holder.

LOS ANGELES, CALIFORNIA – AUGUST 01: October 16, 1972 Sports Illustrated cover and signed limited edition Wilt Chamberlain on display at Sotheby’s Auction House on August 01, 2023 in Los Angeles, California.

Rodin Eckenroth/Getty Images.

The future of Sports Illustrated has now become unclear after a mass layoff. On Friday (Jan. 19), The Arena Group, which publishes SI, alerted the publication’s entire staff that their positions were being cut.

“Some employees will be terminated immediately, and paid in lieu of the applicable notice period under the [union contract],” the notice read. “Employees with a last working day of today will be contacted by the People team soon. Other employees will be expected to work through the end of the notice period, and will receive additional information shortly.”

The decision is a result of The Arena Group recently missing a $3.75 million payment to SI’s license holder, Authentic Brands Group. Authentic bought Sports Illustrated for $110 million from Meredith five years ago to publish the magazine in print and digital, but the financial situation caused ABG to sever the deal.

Following the breaking news, the Sports Illustrated Union issued a statement. “This is another difficult day in what has been a difficult four years for Sports Illustrated under The Area Group (previously The Maven) stewardship. We are calling on ABG to ensure the continued publication of SI and allow it to serve our audience in the way it has for nearly 70 years,” the statement reads.

Mitch Goldich, NFL editor and unit chair, added that the fight to save the legendary publication isn’t over. “We have fought together as a union to maintain the standard of this storied publication that we love, and to make sure our workers are treated fairly for the value they bring to this company. It is a fight we will continue,” he said.

Sports Illustrated was founded by Stuart Scheftel and first published in August 1954. It became a respected publication that documented major sports and their leagues including NFL, MLB, NHL, NBA, College Football, College Basketball, NASCAR, Golf, Boxing, Horse Racing, Soccer and Tennis. It also often highlighted the accomplishments of athletes, the role that sports plays in society, and was well-known for its annual swimsuit issue.

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