"Sports Illustrated Secures Lifeline Deal to Avoid Shutdown and Reboot Under New Publisher"
Sports Illustrated's owner, Authentic Brands, has struck a deal with digital media company Minute Media to keep the iconic magazine afloat after recent layoffs and termination of its publishing license. Minute Media will oversee all digital and print editorial operations for Sports Illustrated and plans to leverage its expertise and technology platform to grow the magazine's media business. The agreement also involves Authentic Brands acquiring an undisclosed amount of equity in Minute Media, with both parties emphasizing the preservation of Sports Illustrated's journalistic integrity and legacy.