Is Sports Illustrated Shutting Down? Shocking News to Sports fans
by Aishwarya R | Updated Jan 23, 2024
Is Sports Illustrated Shutting Down?
The future of Sports Illustrated is in jeopardy as the publisher, The Arena Group, plans to lay off most or possibly all of the magazine's staff, according to the union representing the workers. Despite ownership by Authentic Brands Group, which terminated Arena's publishing license due to missed payments, the fate of Sports Illustrated remains uncertain.
The entire staff has reportedly received pink slips, and while Authentic expresses confidence in the brand's evolution, details about the impact on the staff are unclear. The iconic sports magazine, launched in 1954, faces an uncertain future amid financial struggles and organizational turmoil within its publishing group.
Sports Illustrated's fate hangs in the balance as The Arena Group faces significant layoffs, prompting concerns about the continuation of the nearly 70-year-old media brand. With Authentic Brands Group asserting confidence in the brand's growth, the termination of Arena's publishing license has thrown the magazine's future into turmoil.
Despite reassurances from Arena that they will continue producing Sports Illustrated during the resolution process, the situation remains precarious, leaving the iconic sports publication, once a benchmark in sports journalism, facing potential closure and leaving its dedicated staff in uncertainty.
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About Sports Illustrated
Sports Illustrated (SI), an iconic American sports magazine, made its debut in August 1954 under the founding leadership of Stuart Scheftel. Renowned for being the first publication with a circulation exceeding one million to win the National Magazine Award for General Excellence twice, SI has left an indelible mark on sports journalism.
Beyond its comprehensive sports coverage, the magazine is famous for its annual swimsuit issue, initiated in 1964, and has given rise to various complementary media works and products. Formerly under the ownership of Time Inc. until 2018, Sports Illustrated underwent a transition when it was sold to Authentic Brands Group (ABG) following Time Inc.'s sale to Meredith Corporation.
The Arena Group, previously known as theMaven, Inc., secured a 10-year license to manage the editorial operations of the Sports Illustrated brand, while ABG retained the rights to license the brand for non-editorial ventures and products. This change in ownership and licensing reflects the magazine's enduring legacy and its adaptation to the evolving landscape of media and publishing.
Sports Illustrated History with Timeline
Here is the history of Sports Illustrated:-
Early Beginnings (1936-1954)
Sports Illustrated traces its roots back to 1936 when Stuart Scheftel founded a magazine aimed at sportsmen, running it until 1942 with a focus on golf, tennis, and skiing. After changing hands and facing initial challenges, the magazine's fortunes shifted in 1954 when Time patriarch Henry Luce launched the current Sports Illustrated. Despite skepticism and initial financial struggles, the magazine's impeccable timing coincided with the rising popularity of spectator sports in the United States.
Editorial Innovations and Growth (1954-1980s)
Under the editorial leadership of Andre Laguerre in the 1960s, Sports Illustrated underwent a transformative period. Laguerre introduced full-color photographic coverage, revamped the internal format, and anticipated the surge in interest in professional football. Laguerre's creation of the "bonus piece" and the annual Swimsuit Issue became defining features of the magazine. In the late 1970s and early 1980s, managing editor Gil Rogin and feature stories by Frank Deford solidified SI's status with impactful, in-depth articles.
Color Printing and Rivalry (1965-1986)
The introduction of offset printing in 1965 marked a significant milestone for Sports Illustrated, allowing for crisper images and the merger of color with the latest news. A rivalry among photographers, particularly Walter Iooss and Neil Leifer, emerged to capture the most compelling cover shots. SI became the first American full-color newsweekly in 1983, showcasing its commitment to visual excellence and timely reporting.
Change in Ownership (2018-2019)
In 2018, Sports Illustrated was sold to Meredith Corporation by Time Inc., but Meredith's decision to sell the magazine led to its acquisition by Authentic Brands Group (ABG) in 2019. ABG licensed the editorial operations to theMaven, Inc., which later became The Arena Group, marking a pivotal moment in the magazine's ownership history.
Allegations and Financial Turmoil (2019-2024)
The Arena Group faced controversy in 2019 when allegations of AI-generated articles surfaced, affecting the credibility of Sports Illustrated. In 2023, financial challenges emerged, culminating in missed licensing payments and termination of the licensing agreement by ABG in January 2024. As a result, The Arena Group announced the layoff of the entire Sports Illustrated staff, raising concerns about the future of this iconic sports magazine.
Who is the CEO of Sports Illustrated?
The CEO of Sports Illustrated, Ross Levinsohn, was terminated by The Arena Group last month following a board meeting aimed at enhancing "operational efficiency and revenue." The decision came in the wake of controversy surrounding Sports Illustrated's alleged use of artificial intelligence to generate content, as reported by Futurism. Levinsohn's departure is part of broader changes within The Arena Group, with Manoj Bhargava, the founder and CEO of Innovations Ventures (best known for creating the 5-hour Energy drink), stepping in as the interim CEO.
The company's statement did not specify the reasons behind Levinsohn's termination, stating that the board took actions to improve the operational efficiency and revenue of the company. The controversy, involving the use of AI-generated content without disclosure, led to additional terminations within the company, including the operations president, chief operating officer, media president, and corporate counsel.
Who is the Founder of Sports Illustrated?
Stuart Scheftel is the Founder of Sports Illustrated. He was a multifaceted American individual known for his roles as a businessman, journalist, politician, and golfer. Born into a prominent family, Scheftel was the son of Herbert Scheftel and Vivian Straus Scheftel, with familial ties to the co-founder of R.H. Macy & Company, Isidor Straus. After early education in New York City and South Carolina, Scheftel pursued further studies in Britain and France, including at Christ Church College at Oxford, where he began writing about golf for British publications.
In the 1930s, Scheftel started his career at The New York Times and later founded Young America, a weekly news magazine for classrooms. During the same period, he also launched Sports Illustrated, a monthly magazine with a focus on quality written and print journalism, emphasizing country-club activities over professional sports. Due to a paper shortage, Scheftel discontinued Sports Illustrated, and its title was later sold to Harry Phillips of Time Inc. in 1954.
Apart from his contributions to journalism, Scheftel hosted The Hot Seat, an ABC television program in the early 1950s, where he interviewed notable public figures. He married actress Geraldine Fitzgerald in 1946, and the couple remained married for 47 years, raising a daughter, Susan. Scheftel's stepson was Michael Lindsay-Hogg, known for directing The Beatles film Let It Be. Stuart Scheftel passed away in 1994 at the age of 83, leaving behind a legacy that includes his founding role in the early incarnation of Sports Illustrated.
Branches of Sports Illustrated
Here are the related publications of Sports Illustrated:-
Sports Illustrated Kids Magazine
Launched in January 1989, this magazine caters to a younger audience with a circulation of 950,000. Recognized for its educational excellence, it has received the "Distinguished Achievement for Excellence in Educational Publishing" award 11 times and the "Parents' Choice Magazine Award" 7 times.
Sports Illustrated Almanac Annuals
Introduced in 1991, the Sports Illustrated Almanac offers a yearly compilation of sports news and statistics presented in book form, providing a comprehensive overview of the sporting world.
SI.com Sports News Website
The online presence of Sports Illustrated, SI.com, serves as a prominent sports news website, offering real-time updates, features, and insights, extending the magazine's reach to the digital realm.
Sports Illustrated Australia
Launched in 1992 and spanning six issues, Sports Illustrated Australia brought the iconic brand to the Australian audience, offering sports content tailored to the region.
Sports Illustrated Canada
Published in Canada from 1993 to 1995, Sports Illustrated Canada featured US content with a unique Canadian perspective. It included coverage of Canadian athletes, particularly in hockey, and had distinct article content and advertising tailored for the Canadian audience.
Sports Illustrated Presents
Introduced in 1989, Sports Illustrated Presents focuses on tribute and special edition issues, released nationally or regionally. It started with Super Bowl Tributes and evolved into commemorating various championships, events, and personalities.
CNNSI.com - 24-Hour Sports News Website
Launched on July 17, 1997, CNNSI.com is the online counterpart of Sports Illustrated, providing continuous sports news coverage. The domain name was sold in May 2015.
Sports Illustrated Women Magazine
Launched in March 2000 with a circulation of 400,000, Sports Illustrated Women aimed at female sports enthusiasts but ceased publication in December 2002 due to a challenging advertising climate.
Sports Illustrated on Campus Magazine
Launched on September 4, 2003, this magazine targeted college students and focused on college athletics. It distributed free copies on 72 college campuses but ceased publication in December 2005 due to advertising challenges.
Sports Illustrated Online Casino and Sportsbook
Launched on February 7, 2023, in Michigan, the Sports Illustrated Online Casino, operated in cooperation with 888 Holdings, expanded the brand into the realm of online gaming. It also includes the Sports Illustrated Sportsbook, launched in September 2021.
Esports Illustrated
Launched in March 2023 in partnership with Gaud-Hammer Gaming Group, Esports Illustrated reflects the brand's foray into the burgeoning world of esports, capturing the growing interest in competitive gaming.
Is Sports Illustrated Shutting Down - FAQs
As of now, there are significant challenges and uncertainties surrounding the future of Sports Illustrated. The publisher, The Arena Group, terminated key executives, including the CEO, and there have been reports of financial troubles, layoffs, and the discontinuation of operations. The situation is fluid, and the magazine's fate remains uncertain.
Sports Illustrated faced controversy when allegations emerged about the use of artificial intelligence to generate articles without disclosure. Additionally, financial challenges, including missed payments and the termination of licensing agreements, have contributed to the precarious situation, leading to concerns about the magazine's continuation.
Sports Illustrated was sold to Authentic Brands Group (ABG), and The Arena Group was awarded a license to operate its editorial operations. However, recent developments include the termination of key executives, financial difficulties, and the potential layoff of the entire staff, raising questions about the magazine's ongoing viability.
Authentic Brands Group owns Sports Illustrated but sold the publishing rights to The Arena Group. The termination of The Arena Group's license to serve as the publisher, coupled with financial issues, has created uncertainty about the future of the iconic sports magazine.
The situation is evolving, and stakeholders, including Authentic Brands Group, have expressed a commitment to the brand's legacy. While there are challenges, efforts may be made to ensure that Sports Illustrated continues in some form. The outcome depends on ongoing negotiations, financial restructuring, and the willingness of new stakeholders to support the magazine's legacy.