"Uncertain Future: Sports Illustrated Faces Mass Layoffs and License Revocation"

Sports Illustrated's entire editorial staff may be laid off as a result of Authentic Brands Group revoking Arena Group's license to publish SI, leading to mass layoffs and a significant reduction in the workforce. The Arena Group is in active discussions with ABG to resolve the issue, while ABG affirms that Sports Illustrated will continue but does not address whether SI will continue in partnership with Arena Group. The layoffs come after Arena Group missed a quarterly payment to ABG, and the company is in active negotiations with potential investors to initiate a transformative shift towards a streamlined business model. The Sports Illustrated Union is calling on ABG to ensure the continued publication of SI and allow it to serve its audience, while expressing a commitment to fight for fair treatment of colleagues.