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Authentic Brands Group

All articles tagged with #authentic brands group

business1 year ago

"Litigation Arises from Sports Illustrated Shuffle Involving 5-Hour Energy Mogul"

The owner of Sports Illustrated is suing 5-Hour Energy mogul Manoj Bhargava for $48.75 million, alleging breach of contract and infringement on SI copyrights and trademarks following the implosion of the relationship between Sports Illustrated and Arena Group. Minute Media's recent takeover of Sports Illustrated has led to temporary disruptions, with content appearing on unexpected platforms, but former Arena Group employees are expected to return to SI.com under Minute Media's control.

via NBC Sports|
#5-hour-energy#authentic-brands-group#business
business1 year ago

Sports Illustrated Owner Files Lawsuit Against Former Publisher Over $48M Feud

The owner of Sports Illustrated, Authentic Brands Group, has sued the magazine's former publisher, Manoj Bhargava, for $48 million, alleging that Bhargava's company stopped paying its bills as a pretext to negotiating a new licensing deal. Bhargava is accused of behaving like a gangster and making outrageous demands, leading to the revocation of Arena's license and subsequent layoff of staff. Authentic Brands sold the licensing rights to Minute Media after Bhargava's company failed to pay a $3.75 million quarterly license fee. The lawsuit accuses Bhargava of seeking to "weaponize their obstinance" and Arena of acting with "lawlessness" by refusing to transfer SI-related licensed assets to Minute Media.

via New York Post |
#authentic-brands-group#business#lawsuit
business1 year ago

"Legal Battle Erupts: Sports Illustrated Owner Sues Energy Drink Mogul"

Sports Illustrated's owner, Authentic Brands Group, has filed a lawsuit against energy drink mogul Manoj Bhargava, accusing him of failing to pay millions of dollars for the rights to publish the magazine. The lawsuit alleges that Bhargava and his company owe $48.75 million in missed payments and have infringed on Sports Illustrated's copyrights and trademarks. This legal battle is the latest in a series of public disputes between Authentic Brands Group and Bhargava, whose involvement in the magazine has led to turmoil and conflict.

via The New York Times|
#authentic-brands-group#business#lawsuit
business-media1 year ago

"Sports Illustrated Owner Sues Energy Drink Mogul for $48.75M Chaos"

Authentic Brands Group, the owner of Sports Illustrated, has filed a lawsuit against energy drinks mogul Manoj Bhargava, alleging that he failed to pay millions of dollars for the rights to publish the magazine. The lawsuit claims that Bhargava and his company owe $48.75 million in missed payments and have infringed on Sports Illustrated’s copyrights and trademarks. This legal battle is the latest development in the ongoing conflict between Authentic Brands Group and Bhargava, whose involvement in the magazine's operations has been tumultuous.

via The New York Times|
#authentic-brands-group#business-media#lawsuit
business-media1 year ago

"Sports Illustrated Secures Future with New Publisher After Turmoil"

Sports Illustrated will continue operations under new publisher Minute Media after Authentic Brands Group reached a licensing agreement with Minute Media, acquiring an equity stake in the company. The future of SI's staff remains uncertain as Minute Media plans to meet with employees to determine retention. The magazine has faced challenges in recent years, including ownership changes and a shift in publishing frequency, but Authentic Brands Group aims to protect its journalistic integrity and longevity through this new partnership.

via ESPN|
#authentic-brands-group#business-media#journalism
business1 year ago

"Sports Illustrated Secures Future with New Publisher Amid Turmoil"

Sports Illustrated will continue operations under new publisher Minute Media after Authentic Brands Group reached a licensing agreement with Minute Media, acquiring an equity stake in the company. The future of SI employees remains uncertain as Minute Media plans to meet with them to determine staff retention. The magazine has faced challenges in recent years, including ownership changes and a shift from weekly to monthly publishing, but the new partnership aims to uphold SI's legacy and ensure its longevity in the evolving media landscape.

via The Associated Press|
#authentic-brands-group#business#media
sports-business1 year ago

"Sports Illustrated Secures New Publisher to Continue Operations"

Sports Illustrated's publishing rights have been acquired by Minute Media from Authentic Brands Group, following mass layoffs at the iconic sports publication. Minute Media plans to bring technological innovation and a wider global audience to the brand while maintaining its core mission. The deal includes the SI swimsuit edition and SI for Kids, and Minute Media intends to retain much of the SI staff. This move comes after Arena Group Holdings, the previous owner of the brand rights, failed to make a critical payment, triggering the search for new partners.

via Hollywood Reporter|
#authentic-brands-group#layoffs#minute-media
business1 year ago

"Minute Media Secures Sports Illustrated Print Edition's Future"

Minute Media has secured a 10-year deal with Authentic Brands Group to take over the licensing rights for Sports Illustrated's print edition, ensuring its continuation after a dispute with former publisher Arena Group. The deal includes an option to extend for up to 30 years and involves Minute Media selling a stake to Authentic Brands. The CEO of Minute Media plans to expand SI's coverage globally and rehire some of the laid-off staffers. This move comes after Arena Group, which had its license revoked in January, threatened to cease the print edition.

via New York Post |
#authentic-brands-group#business#licensing-rights
sports-business1 year ago

Minute Media Saves Sports Illustrated from Shutdown and Secures Publishing Rights

Minute Media secures the publishing rights to Sports Illustrated in a long-term partnership with Authentic Brands Group, following a financial crisis at SI's former publishing partner. The deal includes a 10-year publishing license with an option for an additional 20 years, and Authentic will acquire an equity stake in Minute Media. Minute Media plans to continue publishing the print edition of Sports Illustrated and oversee all digital and print editorial operations across the SI portfolio, aiming to enhance visibility and commercial viability while honoring SI's legacy.

via Variety|
#authentic-brands-group#media-partnership#minute-media
business-media1 year ago

"Minute Media Secures Publishing Deal for Sports Illustrated's Future"

Sports Illustrated's owner, Authentic Brands Group, has reached a deal with Minute Media to take over publishing rights from the Arena Group, ending months of uncertainty. Minute Media, a London-based digital media company, will now decide the fate of around 80 SI staffers as it charts a path forward for the storied sports publication. This move comes after the Arena Group, which held publishing rights for five years, faced controversy and missed a payment to Authentic, leading to the revocation of the publishing license and layoff notices to all unionized staff.

via The Washington Post|
#authentic-brands-group#business-media#digital-media
sports1 year ago

"Minute Media Secures Sports Illustrated's Print Edition Future"

Minute Media has acquired the digital and print licensing rights for Sports Illustrated in a deal that could run for up to 10 years with an option to extend for 20 more. The agreement includes editorial operations for Sports Illustrated Swimsuit and Sports Illustrated Kids. As part of the deal, Sports Illustrated owner Authentic Brands Group is acquiring an equity stake in Minute Media. This move comes after months of uncertainty over SI’s future, with Authentic leveraging the brand across various verticals and events. Minute Media aims to honor SI’s legacy while expanding its visibility and commercial viability in new media channels.

via Sportico|
#authentic-brands-group#digital-media#minute-media
business1 year ago

"Minute Media Secures Future of Sports Illustrated Print Edition"

Minute Media, the owner of The Players’ Tribune, has secured a 10-year licensing deal with Authentic Brands Group to operate Sports Illustrated, ensuring the continuation of the magazine's print edition. The deal includes an option to extend for up to 30 years and involves Authentic Brands Group taking a stake in Minute Media. The move comes after months of turmoil at Sports Illustrated and will see Minute Media expanding the magazine's global publishing operations and rehiring some laid-off employees. CEO Asaf Peled plans to maintain the magazine's tradition of in-depth journalism while focusing on short-form sports content creation for mobile devices.

via The New York Times|
#authentic-brands-group#business#licensing-deal
sports2 years ago

"Mass Layoffs: Sports Illustrated Staff Faces Job Elimination as Authentic Brands Revokes Publishing License"

The publisher of Sports Illustrated, The Arena Group, announced mass layoffs after its licensing agreement with Authentic Brands Group was revoked due to a missed payment. The company is in talks to regain the license, but in the meantime, a significant reduction in the workforce has been announced. Despite the uncertainty, the annual Swimsuit edition has been completed and will be released in the spring. Various companies have shown interest in a licensing deal for SI, and the magazine's union members are calling for the continued publication of SI.

via New York Post |
#authentic-brands-group#journalism#layoffs
business2 years ago

"Uncertain Future: Sports Illustrated Staff Laid Off Amid License Revocation"

The publisher of Sports Illustrated, The Arena Group, has announced mass layoffs, leading to uncertainty about the future of the iconic magazine. The company failed to make a quarterly licensing payment, resulting in a "significant reduction" in its workforce of over 100 journalists. Despite the turmoil, the magazine's annual Swimsuit edition has been completed and will be released in the spring. Potential buyers for a licensing deal include Vox, Essence, Penske Media, and former NBA star Junior Bridgeman. The magazine's union members are calling on Authentic Brands to ensure the continued publication of Sports Illustrated.

via New York Post |
#authentic-brands-group#business#journalism