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Sports Illustrated publisher owes millions amid mass layoffs.
According to an SEC filing, The Arena Group — which licenses and publishes Sports Illustrated — owes $45 million to ABG, the company that owns the storied outlet. The Arena Group also recently missed a $3.75 million quarterly payment to ABG.
News broke earlier today that potentially all of the SI staff could be laid off after The Arena Group’s publishing license was revoked — and right now, it’s unclear if Sports Illustrated will exist at all going forward.
The Arena Group SEC filing
[investors.thearenagroup.net]
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