The Authentic Brands Group (ABG) has completed the acquisition of the intellectual property of Sports Illustrated (SI) from Meredith Corp. for $110 million. The acquisition will give ABG the right to key events like Sportsperson of the Year and the possibility to use the brand to produce other new events and to get involved in e-sports and sports gambling. Aside from the well-known magazine itself, which will be licensed out to Meredith, Sports Illustrated is an iconic, multi-platform sports brand reaching an estimated audience of more than 120 million consumers. The purchase includes the brands Sports Illustrated, Sports Illustrated Kids, Sportsperson of the Year, Sports Illustrated Swimsuit, SI, and SI TV. Meredith has already sold two big American magazines, Time and Fortune, and it plans to shut down Money magazine. ABG owns many important sports brands including Airwalk, Prince, Spyder, Tretorn, Vision Streetwear and Volcom.

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