Volcom owner Authentic Brands Group announced another acquisition this morning.
ABG has bought the intellectual property of Sports Illustrated from Meredith Corporation for $110 million.
ABG will take over the marketing, business development and licensing functions. Meredith will pay ABG a licensing fee to operate the Sports Illustrated print magazine and SI.com for a minimum of two years.
“As one of the most iconic brands in sports media, SI is a cultural centerpiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine,” ABG CEO Jamie Salter said in a press release. “SI’s trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment.”
The purchase includes SI’s associated brands, including Sports Illustrated, Sports Illustrated Kids, Sportsperson of the Year, Sports Illustrated Swimsuit, SI and SI TV.
Meredith outlined the following strategic benefits of the deal:
- ABG and Meredith have formed a strategic partnership to build a global media platform that encompasses print, digital, mobile, video, social and broadcast television.
- ABG and Meredith will combine their respective strengths to create other strategic, media-driven opportunities for complementary ABG-owned brands.
- ABG will develop broad-based licensing programs under the Sports Illustrated brand spanning product, original content and live events.
- ABG also sees a significant opportunity to leverage Sports Illustrated’s trusted name and digital infrastructure to position the brand as a leader in esports and sports gambling.
With Sports Illustrated, ABG is continuing its acquisition streak. The company owns 50 brands, including Frye, Juicy Couture, Nautica, Nine West, Aeropostale and Spyder.
