Sports Illustrated's mass layoffs

By Rob Sacks, Editor at LinkedIn News
Updated 4 hours ago

Arena Group, the publisher of Sports Illustrated, notified the majority of the magazine's staff Friday that they were being laid off, according to an email seen by Front Office Sports. The stunning development at the 70-year-old media brand comes after Arena breached its licensing agreement with Authentic Brands Group, missing a $3.75 million payment. Sports Illustrated’s union, representing 80 employees, issued a statement in response to the memo calling on ABG to “ensure the continued publication of SI.” ABG — which bought SI from Meredith five years ago — has engaged in several rounds of layoffs as the magazine struggled to adapt to the internet age.