Sports Illustrated to layoff majority of staff

On Friday morning, iconic sports publication Sports Illustrated (SI) announced it plans to lay off “most, if not all” of its staff, in an email sent to employees by the publication’s parent company Arena Sports Group. The layoffs come after the marketing license of Arena Sports Group—who own publishing rights for Sports Illustrated—was revoked by Authentic Brands Group, according to The Associated Press.

Following the decision, Arena Sports Group informed staff of the immediate consequences of losing the license would manifest in the form of a "significant reduction" in the Sports Illustrated workforce.

The employees' union of Sports Illustrated, the NewsGuild, released a statement addressing the announced layoffs, and calling for ABG to "ensure the continued publication of SI and allow it to serve our audience in the way it has for nearly 70 years."

NFL editor and unit chair at Sports Illustrated, Mitch Goldich, expressed support for the employees, and said the union would continue fighting for the workers' rights at the publication.

Arena Group acknowledged its failure to make a quarterly payment of $3.75 million to Authentic Brands Group, which resulted in ABG seeking to terminate the licensing agreement,  AP News said.

The fate of the majority of Sports Illustrated employees remains uncertain. . CNN meanwhile reported that representatives for SI’s union staff concurred that most of the employees would likely be let go.

Also today, the organizer and parent company of Chicago’s annual Pitchfork music festival, announced layoffs within its own ranks, as the Pitchfork music publication would be moved under the supervision and management of Condé Nast’s GQ banner.