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.
Maybe can the frickin Burkini as the first order of business. Or the price tag will drop to 10 million.
Watching Boston in the NHL final I could really use an ice cold Sports Illustrated beer right now. All I have is PumphouseBrew . ;-)
“Someone will be doing their JR when SI gets sold” - joe_f_wilkinson Congrats calebfriedman ?
charlie_isen
Is that the real reason behind all the SJW nonsense in the SI_Swimsuit
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