Sports Illustrated GOES BROKE! Almost Everyone FIRED?!
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RIP Sports Illustrated. It's being reported that the current owners have GUTTED the struggling publication, firing almost everybody! If only they would stick to sports...
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Additional Context:
The iconic sports publication "Sports Illustrated" is facing significant upheaval, as its publisher, The Arena Group, has announced plans to lay off a substantial portion of its staff, possibly including the entire team. This decision follows a failed payment to Authentic Brands Group (ABG), the owner of the Sports Illustrated brand, which led to the revocation of The Arena Group's license to operate the magazine.
License Revocation: The Arena Group's license to publish Sports Illustrated was revoked by ABG due to a missed $2.8 million bill. This revocation is the primary reason behind the layoffs.
Extent of Layoffs: The exact number of staff members affected is not specified, but it is suggested that "a significant number, possibly all" of the magazine's writers and editors might be laid off. This drastic measure has placed the future of Sports Illustrated, a leader in sports journalism for nearly seven decades, in jeopardy.
AI Scandal and Management Changes: Prior to this incident, Sports Illustrated was involved in a scandal where it published articles under fake bylines with AI-generated headshots. Additionally, there have been high-profile executive departures, including the firing of The Arena Group CEO Ross Levinsohn in December. However, The Arena Group has stated that the AI incident was not related to these executive changes.
Reaction from Staff and Industry: The layoffs have been met with dismay by the Sports Illustrated employee union and others in the industry. Mitch Goldich, NFL editor and unit chair, expressed the union's commitment to maintaining the standard of the publication and ensuring fair treatment for its workers.
Future of Sports Illustrated: Despite these challenges, ABG has stated its commitment to ensuring that the Sports Illustrated brand continues to thrive. They are looking for best-in-class stewardship to preserve the integrity of the brand's legacy.
This situation marks a significant moment in the history of Sports Illustrated, raising concerns about the future of the publication and its impact on the landscape of sports journalism.
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