Authentic Brands Group, which owns the rights to Sports Illustrated, has selected the London-based Minute Media to continue publishing the storied magazine in print and digital editions in a deal that runs for 10 years, with an option to extend for up to 20 more years. The Minute partnership will “usher in the future of the SI brand,” announced Authentic, whose portfolio includes fashion and sports, as well as IP rights to celebrities like Marilyn Monroe, who it is leveraging into a chatbot. Minute owns sports and culture resources including athlete-driven The Players’ Tribune, the FanSided network of websites and newsletters, and sports highlights platform STN Video.

While financial terms were not disclosed, Minute announced that “as part of the deal, Authentic will also acquire an equity stake in Minute Media.” The partnership approach is part of Authentic’s business model, which is to acquire brands and then secure other entities to license and merchandise. In some cases ABG has gone on to retain only a minority stake, a kind of raising all boats approach.

“The deal is a significant expansion for Minute Media,” a 13-year-old company whose holdings “generate more than $400 million in revenue annually,” according to The New York Times. In addition to London, Minute has offices in New York, Tokyo and Tel Aviv. Minute’s strategy is to steward the 70-year-old brand it calls “the gold standard for sports journalism” by “catering to a wider audience on a global scale.”

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

“Minute Media will oversee all digital and print editorial operations across the SI portfolio,” the company said. Minute’s allusion to “emerging channels” suggests ABG’s investment stake may create broader opportunities.

In 2019, ABG acquired Sports Illustrated from Meredith for $110 million. Print and digital publishing subsequently went to Arena Group, which Variety reports told staffers it was ceasing publication of SI this May. Variety says Minute plans to hire back some of the employees who were laid off under Arena Group’s stewardship.”

Both Variety and The Wall Street Journal discuss the implications on the Sports Illustrated Union, and WSJ offers some details of Arena’s financial woes.