Brianna Paciorka/News Sentinel by way of Imagn Content Services, LLC

The subsequent chapter in Sports Illustrated’s saga can be written by administration at Minute Media, which lately acquired the digital and print licensing rights to proceed publishing the storied journal.

The tie-up will run for as much as 10 years with an choice to increase for 20 extra, in accordance with The New York Times, which first reported the information. Financial phrases haven’t been introduced.

Minute Media—which publishes The Players’ Tribune, FanSided, 90min and Mental Floss—lately raised a spherical of funding that reportedly valued the corporate at greater than $1 billion. It additionally lately acquired highlights distributor STN Video. Four years in the past, Minute Media took over FanSided from earlier SI proprietor Meredith Corp. in an identical try and capitalize on a doubtlessly undervalued property. Minute Media has centered on short-form, multimedia content material, although it intends to honor SI’s legacy technique of in-depth protection as properly, together with its print version.

“Sports Illustrated is the gold standard for sports journalism and has been for nearly 70 years across both print and digital media,” Minute Media CEO Asaf Peled mentioned in a press release. “The weight and power of that distinction cannot be understated. At Minute Media, our focus will be to take that legacy into new, emerging channels enhancing visibility, commercial viability and sustainable impact, all while ensuring that the SI team is inspired to flourish in this new era of media.”

As a part of the settlement, Sports Illustrated proprietor Authentic Brands Group can be buying an fairness stake in Minute Media.

Monday’s information follows two months of utmost uncertainty over SI’s future, courting again to Authentic pulling the license from earlier writer The Arena Group within the wake of a missed quarterly fee of practically $4 million at the start of the yr. Arena responded by shedding SI employees members—some instantly and a few probably after a pending 90-day interval. Recently, Arena claimed that the 70-year-old model’s last print challenge would run in May.

Authentic, in the meantime, has continued to leverage the SI model and archive throughout verticals spanning from occasions and resorts to youth sporting occasions and dietary merchandise. For occasion, “SI The Party” forward of this yr’s Super Bowl in Las Vegas featured Kim Kardashian and the Chainsmokers. The firm additionally nonetheless has its eyes on the sports activities betting class, even after a separate licensing cope with 888 was lately terminated. 

“In Minute Media we have found a partner that will honor SI’s lauded legacy and exceed fan expectations for the future,” Daniel W. Dienst, Authentic’s govt vice chairman for tactical operations, mentioned in a press release. “As Minute Media shepherds the SI brand across a rapidly evolving media landscape, our priority at Authentic is—and has always been—to protect its journalistic integrity and longevity. Minute Media has successfully proven that they are leading the way in a new era of sports storytelling, and we are excited and optimistic about this partnership and the future of Sports Illustrated as the preeminent lens into sport.”