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Sports Illustrated’s Entire Staff Told Their Jobs Have Been Eliminated After Authenic Brands Revokes License To Publish; Union Vows To “Fight For Every One Of Our Colleagues”
Following through on a warning earlier this month, Authentic Brands Group has revoked Sports Illustrated’s license to publish due to a missed payment. As a result of the move, the entire staf…
Following through on a warning earlier this month, Authentic Brands Group has revoked Sports Illustrated’s license to publish due to a missed payment. The Arena Group, which has operated the venerable brand under a license agreement since 2019, said in an SEC filing earlier this month that it did not make a quarterly payment of about $3.75 million. Authentic “issued the company a notice of breach with the intent to exercise its right of termination,” Arena said in the filing, adding that they are “in discussion” with the licensor.
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