New York
CNN
 — 

Sports Illustrated isn’t shutting down, in any case.

The iconic sports activities journal is about to get new life beneath a publishing deal introduced Monday by Authentic Brands Group, which owns the journal’s mental property rights.

The information, first reported by The New York Times, caps a tumultuous a number of months for Sports Illustrated that resulted in widespread layoffs, a man-made intelligence scandal and the departure of senior executives.

In January, The Arena Group, which had printed Sports Illustrated since 2019, stopped paying Authentic its licensing payment for publishing rights. In return, Authentic pulled Arena’s license to publish the journal, prompting turmoil on the outlet. At the time, Arena knowledgeable staffers that it will lay off most of its staff, throwing the way forward for Sports Illustrated into jeopardy.

But after trying to find a brand new writer, Authentic has discovered one in Minute Media, a sports-focused content material firm that’s dwelling to a number of different notable manufacturers, comparable to The Players’ Tribune and FanSided.

Minute Media mentioned that whereas it’s going to proceed the print version of the journal, it hopes to additionally usher Sports Illustrated right into a profitable digital future. Asaf Peled, founder and chief govt of Minute Media, mentioned in an announcement the main focus can be taking its 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.”

“Sports Illustrated is the gold standard for sports journalism and has been for nearly 70 years across both print and digital media,” Peled mentioned. “The weight and power of that distinction cannot be understated.”