Mass layoffs hit Sports Illustrated after losing publisher license: NPR

On March 29, 2006 in Fairfax, a George Mason University fan posted the cover of Sports Illustrated magazine to the parade. The union representing the magazine's employees said SI's publisher plans to “make significant headcount reductions.” , perhaps all” of its union-represented employees.

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Lawrence Jackson/AP

On March 29, 2006 in Fairfax, a George Mason University fan posted the cover of Sports Illustrated magazine to the parade. The union representing the magazine's employees said SI's publisher plans to “make significant headcount reductions.” , perhaps all” of its union-represented employees.

Lawrence Jackson/AP

Publisher Game chart The magazine's parent company plans to fire most of its journalists after failing to pay licensing fees.

The magazine's owner, Authentic Brands Group, said in a statement that it has terminated a publishing license agreement with the magazine's publisher, The Arena Group. game chart, But it was committed to 70 years of serial publication of the magazine.

“We believe the brand will continue to evolve and grow to serve sports news readers, sports fans and consumers,” the statement added.

Authentic said it terminated the deal on Thursday As a result of the Company's failure to pay its quarterly license fees despite being given notice of the violation and an opportunity to cure the violation.”

Arena Group said in a statement that despite the cancellation of its publishing license, it was in talks with Authentic and would continue to produce the product. Game chart “Until this is resolved.”

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Union representing 82 Game chart The staff, or 80% of the magazine's entire workforce, said in a statement on Friday that all of its union-represented employees are at risk of layoffs.

“It's another tough day in what has been a tough four years for Sports Illustrated, led by Arena Group (formerly The Maven).” said in a statement.

The news of the layoffs comes a day after publisher The Arena Group announced a “significant reduction”. Citing “substantial debt” and missed payments, its 100-employee member workers.

Front office gameThe company, which first reported the news of the mass layoffs, said it had recently missed a $2.8 million payment to Authentic.

Game chart November grabbed headlines when reports surfaced with allegations that AI had published stories under fake journalist names and photos.

It's the latest major journalism publication to face staff cuts, the same day staff cuts Los Angeles Times They walk out Resistance to planned layoffs. Earlier this week, Condé Nast announced that it was cutting staff at Pitchfork as part of a restructuring that will see the music website roll out. GQ magazine.

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