Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Gossip

Sports Illustrated Significantly Downsizes Workforce Following License Revocation

rmtsa by rmtsa
January 20, 2024
in Gossip
0
Sports Illustrated Significantly Downsizes Workforce Following License Revocation
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Naomi Osaka Talks ‘Anxiety’ After Revealing Tennis Hiatus Wish

Imam Plemon El-Amin Morehouse degree for Dennis Hubert

See Which Stars Are Competing – Hollywood Life

Sports Illustrated is grappling with a “significant” cut in its workforce after its parent company’s publishing license was revoked.

The crisis emerged as The Arena Group, which operates Sports Illustrated since acquiring publishing rights of the iconic sports magazine from The Authentic Brand Group in 2019, failed to meet its quarterly license fee.

Calls were made from the Sports Illustrated employee union for the ABG to ensure continuous publication of the magazine.

Sports Illustrated Lays Off Workforce Following License Revocation

How many remember the greatest Sports Illustrated cover of all time. pic.twitter.com/WVbLN7yUls

— Andy Kaczynski (@KFILE) January 20, 2024

According to a report, the popular magazine was forced to lay off a greater number of its workers after its publishers were unable to meet their financial obligations towards its license fee payment.

Affected staff members reportedly got an email to that effect on Friday after the publication’s license was revoked, casting a shadow over the future of the renowned brand.

“As a result of this license revocation, we will be laying off staff that work on the SI brand,” Arena Group wrote in the email to staff.

The Lay Off Reportedly Didn’t Affect Sports Illustrated’s Entire Workforce

For more than half my life, Thursday was my favorite day because that’s when my Sports Illustrated came.

Time passes, nothing lasts forever.

But, if you’re my age the demise of this institution is like saying goodbye to your childhood best friend. Thanks SI, for everything. pic.twitter.com/AwseAxqIGw

— Mike Greenberg (@Espngreeny) January 20, 2024

Amid the upheaval at Sports Illustrated, reports have it that the wave of layoffs did not uniformly affect the entire workforce.

While a large number of employees were laid off, a staffer named Pat Forde responded to the news on social media, stating that the “entire staff” did not receive termination notices. Forde, per his published bio, covers Sports Illustrated college sports, the Olympics, and horse racing sections.

“The entire staff was not laid off. There still is a website and a magazine. That said: Ugly, brutal day with many layoffs,” Forde wrote on X, formerly known as Twitter.

Forde also noted in his post, “To correct some erroneous reporting, Matt Lombardi of the Arena Group: ‘We are going to continue to operate Sports Illustrated. … Either Arena or someone else is going to have the license to operate Sports Illustrated.’”

Sports Illustrated Will Continue To See The Light Of Day

Megan Fox and Machine Gun Kelly At Sports Illustrated Swimsuit 2023 Issue Release Party
MEGA

According to the news outlet, Authentic Brands Group also announced its commitment to ensuring the continuity of the revered sports publication. The ABG sold publishing rights for Sports Illustrated to the Arena Group in 2019 for at least ten years. However, that deal seems to be hanging in the balance following AG’s inability to meet its financial obligations.

In a statement shared with Fox News Digital, ABG confirmed the revoking of Arena Group’s marketing license, stating that it was a result of “failure to pay its quarterly license fee despite being given a notice of breach and an opportunity to cure the breach.”

The statement continued, “Authentic is here to ensure that the brand of Sports Illustrated, which includes its editorial arm, continues to thrive as it has for the past nearly 70 years. We are confident that going forward, the brand will continue to evolve and grow in a way that serves sports news readers, sports fans, and consumers.”

“We are committed to ensuring that the traditional ad-supported Sports Illustrated media pillar has best-in-class stewardship to preserve the complete integrity of the brand’s legacy,” they added.

Employee Union Reacts

The assurance from ABG should inject a glimmer of hope into the Sports Illustrated community and its employee union, who were notably shaken by the recent layoff announcements but vowed to “continue” the fight.

According to Fox Business, the iconic sports magazine’s employee union acknowledged that a vast amount of the brand’s workforce, and possibly all of the NewsGuild workers, might be affected.

“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,” Mitch Goldich, NFL editor and unit chair, said in a statement.

The union also charged Authentic Brands Group to “ensure the continued publication of SI and allow it to serve our audience in the way it has for nearly 70 years.”





Source link

Tags: DownsizesIllustratedLicenseRevocationSignificantlysportsWorkforce
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Naomi Osaka Talks ‘Anxiety’ After Revealing Tennis Hiatus Wish

by rmtsa
May 29, 2025
0
Naomi Osaka Talks ‘Anxiety’ After Revealing Tennis Hiatus Wish

Naomi Osaka is opening up after a rough stretch both on and off the court.Following her early exit from the French Open, the tennis star posted a photo...

Read more

Imam Plemon El-Amin Morehouse degree for Dennis Hubert

by rmtsa
May 29, 2025
0
Imam Plemon El-Amin Morehouse degree for Dennis Hubert

Source: Raymond Boyd This one goes out to those who think that racism is a thing of the past and has no affect on today’s society. A man...

Read more

See Which Stars Are Competing – Hollywood Life

by rmtsa
May 29, 2025
0
See Which Stars Are Competing – Hollywood Life

Image Credit: Getty Images As Survivor gears up for its landmark 50th season—Survivor 50: In the Hands of the Fans—anticipation is already building. Set to premiere in spring...

Read more

Jennifer Lopez Doesn’t Care What Critics Think About ‘Lesbian Kiss At AMAs

by rmtsa
May 29, 2025
0
Jennifer Lopez Doesn’t Care What Critics Think About ‘Lesbian Kiss At AMAs

Jennifer Lopez is not batting an eye at the backlash that has surfaced after she locked lips with a female dancer at the 2025 American Music Awards in...

Read more

Social Media Reacts To Travis Hunter Marrying His Longtime Love

by rmtsa
May 28, 2025
0
Social Media Reacts To Travis Hunter Marrying His Longtime Love

Source: Logan Bowles/Getty Images Social media is buzzing over Heisman-winner and No. 2 NFL Draft pick Travis Hunter marrying his longtime love Leanna De La Fuente in a...

Read more
Next Post
Jesse Eisenberg on ‘A Real Pain,’ Wanting to Director One Movie a Year – The Hollywood Reporter

Jesse Eisenberg on ‘A Real Pain,’ Wanting to Director One Movie a Year – The Hollywood Reporter

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Naomi Osaka Talks ‘Anxiety’ After Revealing Tennis Hiatus Wish
  • Hours of Unreleased DMX Freestyles Are Being Sold at Auction
  • Cartoon: Tom the Dancing Bug presents Super-Fun-Pak Comix

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In