It has already sold Time and Fortune. Sports Illustrated was one of the flagship titles of Time Inc., which was acquired by the women-focused magazine company Meredith Corporation in 2018. “Meredith’s goal of a completed transaction is achieved.”. I'm so proud this was my first job out of school and so lucky to have been colleagues with these writers, editors and producers. "Meredith will handle the payroll and benefits administration through the end of calendar 2019 as part of a transition services agreement with Maven.”, The Sports Illustrated United Twitter account, run by employees of Sports Illustrated, posted this message: “Imagine walking into a room, some individuals after 25+ years of service to a brand, and having a person who was not even the one who chose to terminate your position, telling you coldly your job is gone. We've received your submission. It has already sold Time and Fortune. Small media company to run Sports Illustrated for new owner By TALI ARBEL June 17, 2019 GMT FILE - This Feb. 14, 2018, file photo shows a copy of Sports Illustrated held by Danielle Herrington attending its Swimsuit Issue launch party at Magic Hour at Moxy NYC Times Square in New … “If you’ve got a problem, please don’t call the Washington Post, please don’t call the New York Post,” he reportedly said. Sitemap Authentic Brands and Meredith say it's not clear when the magazine will be in the hands of its new publisher or how involved, if at all, Meredith might still be. He was cleared of wrongdoing by the company, then called Tronc, that had owned the paper. It has already sold Time and Fortune.        Testing locations It's been a devastating day in the office, but I'm looking forward to whatever's next. The Sports Illustrated staffers are the latest victims of the downsizing affecting digital and print media, which has struggled to retain advertising revenue as marketers have shifted their spending to tech platforms. What a mess. Do Not Sell My Personal Information, Your California Privacy Rights I’ve been laid off as part of the purge at @SINow. Inevitably the business model changes; it’s just a matter of whether the new people in charge actually give a shit about journalism as much as money. Getting to help lead Sports Illustrated after starting my career there as a fact-checker was a thrill of a lifetime, and beyond my dreams.        Resources Do Not Sell My Personal Information. The latest updates from all of Boston's sports teams. Separately, New York Magazine sold itself to digital media group Vox earlier this week. — Mark McClusky (@markmcc) October 3, 2019. Coronavirus Maven’s CEO, Jim Heckman, is a media entrepreneur who has often worked with Levinsohn. It said in a statement Monday that the sale process took much longer for Sports Illustrated, and that’s why it agreed to license the media operations. 2 minutes ago. Sports Illustrated to cut staff as new owner takes over The laid-off staffers are the latest victims of downsizing affecting digital and print media, which has struggled to retain advertising revenue. "Meredith's goal of a completed transaction is achieved.". Staff were expected to attend transition meetings Thursday, but they were abruptly canceled after reports that the new owners planned to lay off half the staff. It is responsible for marketing and business development and will do a revenue split with Maven for the parts of the business Maven isn’t licensing. Maven did not own or produce editorial content for the blog, which was removed after staffers complained that it was drawing racist comments, but it man­aged the platform, and the traffic the site generated figured into the overall traffic for Maven’s other publishing platforms. Let’s fix it. Our business is our business. To be frank, I’m devastated I won’t be able to work with my friends anymore, and I have too many people to thank. Staff members began sharing their memories on Twitter, including digital editor Mark McClusky, who said he had started his career there and returned three years ago before exiting the media outlet. A brief Googling reveals that this guy was booted from the LA Times after a newsroom revolt and has a pretty poor reputation in the industry. Authentic Brands, which specializes in managing fashion, entertainment and sports brands, bought Sports Illustrated for $110 million. you can thank “journalists” for the downfall of journalism. (Photo by Evan Agostini/Invision/AP, File). August 12, 2020 | 11:51am | Updated August 14, 2020 | 1:22pm. It says Ross Levinsohn, former publisher of the Los Angeles Times, would be CEO of what will soon be named Sports Illustrated Media. Authentic Brands also has the right to invest in Maven, a little-known startup that last week bought TheStreet financial site for $16.5 million. Meredith had long had the goal of selling titles from its Time Inc. acquisition that didn’t fit its brand. NEW YORK -- The company that recently bought Sports Illustrated has found someone to run it: a small media company called Maven. If you need a writer, reporter, podcaster, please let me know. It said it saw opportunities to grow the brand in digital, TV and social media, with licensing opportunities in products, original content and live events, including the growing market for sports gambling and video game competitions known as esports. Authentic Brands and Meredith say it’s not clear when the magazine will be in the hands of its new publisher or how involved, if at all, Meredith might still be. There is no need for us to allow others from outside to know what we are doing inside, either good or bad.”, Salter admitted to Media Ink that he admonished SI staff at the July 29 forum. So Wednesday night the Wall Street Journal reported that Sports Illustrated was headed for mass layoffs after previous owner Meredith sold SI to a new company, which licensed the publishing rights to a group called TheMaven, run by a dude named Ross Levinsohn.

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