Minute Media, the sports activities media firm that owns The Gamers’ Tribune, landed the publishing rights to Sports activities Illustrated — coming two months after a monetary disaster at SI’s former publishing companion led to mass layoffs.

Genuine Manufacturers Group, the holding firm that owns the Sports activities Illustrated model, introduced a long-term partnership with Minute Media for publishing rights to the legendary sports activities model throughout digital and print platforms. Minute Media’s different sports activities and tradition content material manufacturers are The Gamers’ Tribune, initially based by Derek Jeter, FanSided, 90min and its most up-to-date acquisition, STN Video, which has rights to premium highlights from each main sports activities league in North America for on-line video platform distribution.

ABG had beforehand licensed the rights to publish Sports activities Illustrated the journal to an organization known as Enviornment Group — however after the Enviornment Group missed a current $3.75 million fee, in January, ABG revoked the license, main the Enviornment Group to institute main job cuts on the publication.

As a part of the deal, Genuine may even purchase an fairness stake in Minute Media. Minute Media stated it plans to rent again among the workers who had been laid off below Enviornment Group’s stewardship.

Sports activities Illustrated’s publishing portfolio consists of Sports activities Illustrated, Sports activities Illustrated Swimsuit and Sports activities Illustrated Youngsters. Minute Media will oversee all digital and print editorial operations throughout the SI portfolio.

“Sports activities Illustrated is the gold normal for sports activities journalism and has been for almost 70 years throughout each print and digital media. The load and energy of that distinction can’t be understated,” stated Asaf Peled, founder and CEO of Minute Media. “At Minute Media, our focus can be to take that legacy into new, rising channels enhancing visibility, business viability and sustainable impression, all whereas making certain that the SI staff is impressed to flourish on this new period of media.”

In 2019, Genuine Manufacturers Group bought Sports activities Illustrated from Meredith for $110 million (after Meredith had acquired Time Inc. and earlier than Meredith was acquired by IAC’s Dotdash). When ABG purchased SI, it laid off greater than 30% of the publication’s employees. ABG licensed media and publishing rights for the SI model to Maven, which modified its identify in 2021 to Enviornment Group.

Daniel W. Dienst, ABG’s govt vice chairman of tactical ops, stated in an announcement, “In Minute Media we’ve discovered a companion that can honor SI’s lauded legacy and exceed fan expectations for the long run. As Minute Media shepherds the SI model throughout a quickly evolving media panorama, our precedence at Genuine is – and has all the time been – to guard its journalistic integrity and longevity. Minute Media has efficiently confirmed that they’re main the best way in a brand new period of sports activities storytelling, and we’re excited and optimistic about this partnership and the way forward for Sports activities Illustrated because the preeminent lens into sport.”