In a significant turn of events, the iconic sports media brand, Sports Illustrated, is bracing for mass layoffs following the revocation of its publishing license by Authentic Brands Group (ABG), the licensing entity that owns Sports Illustrated.
Key Points:
Arena Group Announcement: The Arena Group, publisher of Sports Illustrated, informed employees of impending layoffs, potentially affecting a “significant number, possibly all” of the Guild-represented workers at SI, according to a statement by the Sports Illustrated Union.
License Revocation by ABG: The decision to lay off workers stems from ABG’s revocation of Arena Group’s license to publish Sports Illustrated. The move adds another layer of challenge to Sports Illustrated’s recent tumultuous years under Arena Group stewardship.
Union’s Call for Continuity: The Sports Illustrated Union called upon ABG to ensure the ongoing publication of Sports Illustrated, which has been a prominent sports media brand for nearly 70 years. The union emphasized the need for continuity in serving the audience.
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Expectations from Arena Group: The union expects the Arena Group to honor all terms of its union contract and pledges to advocate for fair treatment of affected colleagues. The commitment to maintaining the publication’s standards and fair treatment is a central focus for the union.
Challenges in the News Industry: The Sports Illustrated development coincides with other significant shifts in the news industry, such as layoffs at the Los Angeles Times and buyouts at The Washington Post. The broader media sector has experienced a notable increase in job cuts, reaching the highest year-to-date figure since 2020, according to a report by Challenger, Gray and Christmas.
Ongoing Union Fight: The union, led by figures like NFL editor and unit chair Mitch Goldich, emphasizes its ongoing fight to uphold the standards and values of Sports Illustrated. The commitment to fair treatment and the publication’s legacy is a central theme in the union’s response.
Industry-Wide Impact: The situation at Sports Illustrated reflects broader challenges faced by the media sector, with a substantial increase in job cuts across the industry. The dynamic landscape of news organizations grappling with economic pressures and shifts in consumer behavior adds complexity to the industry’s future.
This is a developing story, and further updates will provide insight into the unfolding situation at Sports Illustrated and the impact on its workforce. The union’s commitment to advocating for fair treatment and the continued publication of the iconic brand remains a focal point amid the uncertainties surrounding the future of Sports Illustrated.