Minute Media has acquired publishing rights to Sports Illustrated in a 10-year deal, with options extending up to 30 years, including an equity stake for Authentic Brands Group.

The acquisition follows The Arena Group's loss of licensing rights due to a missed quarterly payment and issues with publishing fake and AI-generated content.

Minute Media will assess and potentially rehire Sports Illustrated staff as it takes over as the new publisher.

Despite Minute Media's history with short form content, CEO Asaf Peled commits to maintaining Sports Illustrated's tradition of in-depth journalism.

The partnership aims to honor Sports Illustrated's legacy while adapting to new media channels and meeting fan expectations for the future.

The Arena Group's turbulent management and use of deceptive AI content have led to public criticism and organizational disarray.