"Sports Illustrated Faces Major Layoffs as Publisher Revokes License"

The publisher of Sports Illustrated, the iconic sports brand, is planning significant layoffs after its license to use the brand's name was revoked by Authentic Brands Group. The layoffs could affect a significant number, possibly all, of the outlet's staff, including NewsGuild workers. The Arena Group, which operates Sports Illustrated, admitted to failing to make a quarterly payment, leading to the revocation of the license. The future of the publication remains uncertain as negotiations with Authentic Brands Group continue.