Sports Illustrated Wounds Up
*Lays off entire staff
One of the world's most recognized sports magazines, Sports Illustrated, has ended its illustrious sports reporting run on a screeching note.
The iconic brand announced Friday that it was quiting sports publishing engagement topped by the announcement that it was also laying off its entire work force with immediate effect.
Sports Illustrated is relied upon as one of the most authentic authorities on global sports having covered the most memorable sports moments in history. However, the outfit now faces a bleak future with the announcement of a massive layoff of its entire workforce.
Prior to Friday's announcement, its publisher, The Arena Group, AG, came under fire for deploying Artificial Intelligence, AI, in producing a number of the magazine’s content. The action is sequel to its inability to pay a $3.75m quarterly fee, due this week, to authentic Brand Group, owner of the SI brand.
The failure prompted Authentic Brands to revoke AG's publishing license which invariably affected the fortunes of the over 100 sports journalists on the bill of the SI.
The AG disclosed on Thursday that it would cut a “significant” number of its employees as a result.
What's Your Reaction?
