The publishing rights for Sports Illustrated are still in a state of flux, and a pair of media companies may be throwing their hats into the ring.
Per the New York Post, both Front Office Sports and Minute Media could consider bidding for SI‘s publishing rights. The Arena Group previously held the rights, but its license was terminated by SI’s owner, the Authentic Brands Group, earlier this month following a missed payment. Arena is in the midst of a 60-day contractual period during which it retains SI‘s publishing rights.
Arena is attempting to renegotiate its deal with Authentic for SI‘s publishing rights, and shouldn’t be discounted from reaching a deal with Authentic.
Front Office Sports and Minute Media entering the fray is an interesting development. FOS received an investment from Jeff Zucker and RedBird in October and has been looking to expand its footprint. The Post muses that FOS “could publish its articles through Sports Illustrated” and/or explore co-branding if it wins the publishing rights.
Minute Media owns several well-known brands in the sports world, including The Big Lead, The Players’ Tribune, and Fansided, which was sold by Meredith less than a year after the company sold SI to Authentic. The company raised $40 million in February 2020, giving the company a valuation of over $500 million at the time, but it has been quiet on the acquisitions front until buying STN Video last week.
We can debate all day about whether or not it’s good or bad for Sports Illustrated if Arena, FOS, or Minute wins the publishing rights. But it’s unquestioned that more outlets possibly entering the fray is good for Authentic. With two other bidders potentially going up against Arena, Authentic would seem to be less likely to renegotiate Arena’s deal on terms more favorable than the embattled company.
