Meredith Corporation Sells Sports Illustrated to ABG for $110 Million
Meredith will pay licensing fee for two years to maintain magazine and SI.com.
Last week, Meredith Corporation (NYSE: MDP) announced the sale of the Sports Illustrated brand to Authentic Brands Group (ABG), a brand development, marketing and entertainment company, for $110 million. Sports Illustrated has a total audience of 120 million, making it the most-read sports magazine in the world. SI.com is in the top 10 sports websites, and Sports Illustrated has a strong presence on both print and digital platforms. It is well-known for its annual swimsuit issue and the Sportsperson of the Year awards.
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