The news came here first.
Then came the surprise.
Finally the blankets arrived.
Sports media around the world were rocked Thursday by the announcement that Sports Illustrated, which has been plagued by controversy since its 2019 acquisition through Authentic Brands Group, will lay off the majority of its workforce in what many see as the end of the publication.
The manner in which the layoffs occurred is the latest in a series of ongoing embarrassments for Sports Illustrated since its logo merged with Arena Group shortly after its $110 million acquisition of Meredith Corp.
An announcement came at 1:30 p. m. claiming that Arena is realizing “significant relief in its workforce through more than one hundred employees” after the company failed to make a quarterly payment to ABG in its $15 million annual payment for Sports Illustrated’s publishing rights in print and online. This late payment resulted in the revocation of its license to distribute content under the SI brand.
In an email sent to Forbes. com on Monday, Authentic Brands Group said that despite the termination of Arena Group’s license as a publisher, “Authentic is here to make sure the Sports Illustrated brand, which includes its publishing arm, continues to thrive. “as it has for almost 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.”
SI veteran Pat Forde had expressed the same sentiment in an explanation from Arena’s operations leader, Matt Lombardi, which he posted on Friday, “but he was also among those beyond and those who lamented the struggles of the legendary sports publication. Forde described the layoffs as an “ugly, brutal day. “
Bestselling writer Jeff Pearlman said he was heartbroken, while Richard Deitch, now at The Athletic, described it as “just a terrible day in a series of terrible days for a position that meant something global to so many people. “Writer and editor Mitch Golditch wrote, “This was a true dream assignment for me and I’m grateful to have had opportunities for the past nine years. “
Adam Schefter says: “At its peak and even for some time afterward, Sports Illustrated was an institution. »Array. . [ ] (Photo via Henry S. Dziekan III/WireImage)
ESPN’s Adam Schefter noted, “In its heyday and even for a while after, Sports Illustrated was an institution. Its coverages and policy were legendary. Many wonderful paintings have been painted there. And now is the end.
Fans shared their opinions by posting their favorite magazine covers on social media, from the U. S. hockey team to the U. S. hockey team. UU. de 1980 that won the gold medal to Tom Brady, John F. Kennedy and the thoroughbred American Pharoah, winner of the Triple Crown.
CNN’s Jake Tapper provided a series of social media posts showcasing his love of Philadelphia sports, captured in SI’s coverage of 76er Moses Malone, Phillies legend Mike Schmidt and Villanova’s 1985 NCAA victory about Georgetown.
These photographs of vintage sporting triumphs stand in stark contrast to the crumbling credibility of a 70-year-old logo that was once the standard-bearer of journalism for its exemplary writing and photography, and which meant so much to so many people.
Sports Illustrated’s front pages, such as the one on May 9, 1983, featured the sport’s biggest moments. (Photo by Andy Hayt/Sports Illustrated Getty Images)
Arena Group fired SI CEO Ross Levinsohn in December after the magazine exposed through Futurism the publication of AI-generated articles by fake authors. The current crisis comes with Manoj Bhargava at the helm, having been appointed to “improve the company’s operating power and profits”.
His predecessor, James Heckman, reduced the workforce by 20 percent, replacing it with contractors. More pay cuts occurred in 2020 due to the COVID-19 pandemic, the same year Heckman fired late American senior Grant Wahl. football journalist, for criticizing the company’s decisions.
The union representing SI staff issued a statement Friday saying it expects Arena Group to honor its union contract and will continue to work to ensure all of its staff are treated fairly.
“We have fought together as a union to maintain the popularity of this mythical publication that we love and to make sure that our staff are treated for the price they bring to this company,” said Mitch Goldich, editor-in-chief. NFL chief and president of the mag. declared. ” This is a fight that we will continue. “
The question remains whether Sports Illustrated can answer the bell of an additional circular in what turns out to be a futile battle.
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