NEW YORK (AP) – The company that recently bought Sports Illustrated has found someone to run it: a small media company called Maven.
Authentic Brands Group bought Sports Illustrated from publishing giant Meredith last month. At the time, the companies said Meredith would run the magazine and the SI.com website for at least two years under a licensing deal.
But in a filing Monday, Maven said it has a licensing deal for Sports Illustrated magazine and the website. It says Ross Levinsohn, former publisher of the Los Angeles Times, would be CEO of the licensed business.
Maven says its deal runs through 2029 and may be renewed. Terms were not disclosed, but Maven paid $45 million up front.
Meredith said in a statement Monday that it has achieved its “goal of a completed transaction.”