Sports Illustrated magazine lays off staff

NEW YORK - Staff at Sports Illustrated, the famed American sports magazine that became a fixture for athletes and fans, were laid off on Friday by publisher The Arena Group, according to the SI employees union.

Arena group missed a licensing rights payment to brand owner Authentic Brands Group (ABG), which ended its deal with Arena, prompting layoff notices being sent.

"Earlier today, the workers of Sports Illustrated were notified that The Arena Group is planning to lay off a significant number, possibly all, of the Guild-represented workers at SI, a result of ABG revoking Arena's license to publish SI," the union said in a statement.

"This is another difficult day in what has been a difficult four years for Sports Illustrated under Arena Group stewardship.

"We are calling upon ABG to ensure the continued publication of SI and allow it to serve our audience in the way it has for nearly 70 years."

Authentic bought Sports Illustrated publishing rights for $110 million from Meredith in 2019.

A notice sent to staffers by Arena said it would "be laying off staff that work on the SI brand."

"Some employees will be terminated immediately... and paid in lieu of the applicable notice period under the (union contract). Employees with a last working day of today will be contacted.

"Other employees will be expected to work through the end of the notice period and will receive additional information shortly."