In a strategic move designed to stabilize and expand its operations, Sports Illustrated is partnering with digital media company Minute Media. This collaboration marks a significant shift in the magazine’s publishing rights, now secured by Minute Media for the next 10 years, with an option to extend the agreement for up to three decades.

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The decision comes on the heels of challenges with the Arena Group — the magazine’s previous operator — which failed to fulfill a $3.75 million payment obligation. The lapse prompted Authentic Brands Group (ABG), the holder of Sports Illustrated’s intellectual property rights, to terminate its existing publishing agreement with the Arena Group, leading to substantial job losses in January.

Asaf Peled, the founder and CEO of Minute Media, has emphasized the company’s commitment to uphold the high standards of journalism Sports Illustrated is known for.

“At Minute Media, our focus will be to take that legacy into new, emerging channels enhancing visibility, commercial viability and sustainable impact, all while ensuring that the SI team is inspired to flourish in this new era of media,” Peled said.

The acquisition not only aims to ensure the print edition’s continuation but also seeks to broaden Sports Illustrated’s global presence. Minute Media — which owns other sports and culture content brands such as The Players’ Tribune and FanSided — plans to reinstate some of the employees laid off under the previous management, signaling a new chapter for the sports journalism brand.