BBC
The American sports magazine Sports Illustrated is facing further turmoil, after the media company charged with publishing the magazine has lost its licence to do so.
Staff said they had been warned to expect mass layoffs and that the future of the storied title was unclear.
Sports Illustrated owner Authentic Brands Group did not respond to a request for comment.
Publisher Arena Group said talks over the licence were ongoing.
“We are in active discussions with Authentic Brands Group … but we understand we aren’t the only ones,” a spokeswoman for the company said.
Sports Illustrated launched in 1954 and was for decades a premier title in American sports journalism.
Known for using sports to delve into wider issues, its covers were a coveted spot for athletes and its swimsuit issues regularly sparked commentary.
But, like other magazine and newspapers, it has struggled as eyeballs and advertising shift online.
Authentic Brands Group, which is known for scooping up stressed brands, especially retail names, and licensing them to operators, purchased the title in 2019 for $110m (£85.5m).
It had warned Arena earlier this month that it planned to cancel their deal, after Arena missed a $3.75m payment, according to filings with financial regulators.
The spokeswoman for Arena said it would continue to produce Sports Illustrated until the licensing issue was
