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US: Sports Illustrated brand sold for US$110M

 |  May 29, 2019

The brand and intellectual property of Sports Illustrated have been sold to marketing company Authentic Brands Group for US$110 million.

Meredith Corporation (MDP), the current owner of the iconic magazine, announced the sale on Tuesday, May 28. In an unusual arrangement, Meredith will continue to publish the Sports Illustrated magazine and website.

Jamie Salter, CEO of Authentic Brands Group, said in a statement that Sports Illustrated’s “trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment.”

According to the companies, potential new business opportunities include events, conferences, gambling, and gaming products as well as video and television.

Full Content: Desmoines Register

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