It takes decades to build a trusted and respected brand. Losing stature happens much faster. Authentic Brands Group has built a $20bn empire acquiring the intellectual property behind such fashion names as Brooks Brothers, Aéropostale and Nine West as well as celebrities such as Elvis Presley.
In 2019, it bought the storied but downtrodden Sports Illustrated (SI) for just over $110mn. It believed that the revered magazine could become a lifestyle brand with extensions in sports betting and ticket sales.
Authentic then signed a licensing deal, with media mini-conglomerate Arena Group, to publish a version of SI. Arena would earn ad revenue while paying an annual $15mn royalty to Authentic.
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