The Status of Sports Illustrated

 

Sports Illustrated has laid off staff. The sports magazine is in serious financial consternation. A combination of corporate avarice, mismanagement, and faults in the capitalist business model might be the demise of the magazine. Sports Illustrated was purchased by the Authentic Brands Group in 2019. This corporation has owned a number of brands, which has essential reduced business competition. The Arena Group which has the license to publish Sport Illustrated  made serious error. The realization that some articles written with AI generated controversy. The failure to expand in terms of online publication and social media pushed the magazine behind. Consumers of a certain age are not going to read newspapers or magazines. The platforms and consumption of entertainment has changed. The corporate practice of terminating staff to increase profits is more prevalent. Authentic Brands Group's executive leadership is making more and will not accept cuts in pay to save the magazine. Unionized workers were given a notice in advance and those not part of a labor union were terminated immediately. Just being part of a labor union does not ensure job security. Print journalism is slowly becoming a relic of the past. The nature of sports reporting is also undergoing transformation. Arena Group is attempting to reach an agreement with Authentic Brands Group. Without some licensing publication Sports Illustrated could cease. The magazine started in 1954 and has become an icon of sports journalism. While the status of Sports Illustrated remains unknown, it amassed a major following in its 69 years of circulation.