AUTHENTIC BRANDS GROUP BUYS SPORTS ILLUSTRATED FROM MEREDITH

Authentic Brands Group (ABG) has finalized the purchase of the intellectual property of Sports Illustrated from Meredith Corporation. Terms of the deal were not disclosed.

This acquisition adds a new vertical to ABG’s growing platform and portfolio, which currently generates over $9.3 billion in global retail sales annually.

Through this new deal, ABG forges a strategic partnership with diversified media powerhouse Meredith to build a global platform that converges the worlds of sports, culture and entertainment. ABG assumes the marketing, business development and licensing functions for the Sports Illustrated intellectual property and brand, while the print magazine and SI.com will maintain editorial independence and continue to operate under the leadership of Meredith and editor-in-chief Chris Stone and publisher Danny Lee.

“We are honored to welcome Sports Illustrated to the ABG family,” said Jamie Salter, founder, chairman and CEO of ABG. “As one of the most iconic brands in sports media, SI is a cultural centerpiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine. SI’s trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment.”

“We are delighted to find a great home for Sports Illustrated with ABG, one of the world’s premier brand owners and licensors,” added Jon Werther, president, Meredith National Media Group. “Additionally, we are excited about the opportunity to fully integrate Sports Illustrated’s print and digital products into Meredith’s operations. We believe our proven expertise in content creation and sales and marketing will greatly enhance the vitality and profitability of these channels.”