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On 10 Mar 2023, Molly Bolt <mollythebolt666@gmail.com> posted some news:e980688e-9f4b-4fd3-a443-914318a0e202n@googlegroups.com:

Apparently trumpeting the values of the 2% market of queers
doesn't sell to the 98% and they quit buying the now gay asswipe
magazine.

The publisher of Sports Illustrated has notified employees it is
planning to lay off a significant portion — possibly all — of the
outlet's staff after its license to use the iconic brand's name in print
and digital was revoked.

In an email to employees Friday morning, the Arena Group, which operates
Sports Illustrated and related properties, said that Authentic Brands
Group has revoked its marketing license.

“As a result of this license revocation, we will be laying off staff
that work on the SI brand,” the email said.

Sports Illustrated's employee union said in a statement that the layoffs
would be a significant number and possibly all, of the NewsGuild workers represented.

“We have fought together as a union to maintain the standard of this
storied publication that we love, and to make sure our workers are
treated fairly for the value they bring to this company. It is a fight
we will continue,” Mitch Goldich, NFL editor and unit chair, said in a statement. The guild's statement also called for Authentic Brands Group
to “ensure the continued publication of SI and allow it to serve our
audience in the way it has for nearly 70 years.”

The Arena Group acquired publishing rights from ABG in 2019 for at least
10 years. The group’s stewardship of SI has had many hurdles since then.
In December, it fired chief executive officer Ross Levinsohn when the magazine’s alleged use of AI-generated stories drew public backlash.

The iconic sports brand has had a rough six years. It was acquired by
Meredith Publishing in 2018 as part of the purchase of Time Inc., which
started the magazine in 1954.

Less than a year later, Meredith sold the magazine's intellectual
property to Authentic Brands Group for $110 million. ABG owns the
intellectual property of many brands and stars, including Marilyn
Monroe, Elvis Presley, Muhammad Ali and Reebok.

Once a weekly publication, SI was reduced to biweekly publishing in 2018
and became a monthly in 2020.

https://www.msn.com/en-us/sports/other/sports-illustrated-planning-signif icant-layoffs-after-license-to-use-its-brand-name-was-revoked/ar-BB1gXRr1

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