"Mass Layoff: Uncertain Future for Sports Illustrated's Staff and Brand"

Sports Illustrated's publisher, Authentic Brands Group, has terminated its licensing agreement with The Arena Group, leading to massive layoffs at SI. The layoffs come after Arena missed a $2.8 million payment, breaching the licensing deal. The future of SI remains uncertain as Authentic explores options to establish a new operator for the publication. The move signals a shift in the company's operations, following struggles to find financial stability in the digital age and recent leadership changes.