Sports Illustrated’s Brand Owner, Authentic, Warns Publisher It May Terminate Contract After Fee Payment Missed
deadline.comAuthentic Brands Group, the company that licenses the Sports Illustrated brand, has warned the publisher that it may terminate its contract “absent a cure” after a fee payment was missed.
In a filing with the Securities and Exchange Commission on Friday, publisher Arena Group said it did not make a quarterly payment of about $3.75 million.
Arena has licensed the editorial operations of the venerable brand since 2019. Authentic “issued the Company a notice of breach with the intent to exercise its right of termination,” Arena said in the filing, adding that they are “in discussion” with the licensor.
Authentic Brands Group said in a statement, “As the second largest brand owner and licensor in the world, a key to Authentic’s success has been and will continue to be the support of our nearly 2,000 best-in-class partners around the world.
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