Authentic Brands Group is buying Sports Illustrated from Meredith Corp.
Authentic will handle marketing, business development and licensing functions. That includes licensing the magazine itself back to Meredith, so that Meredith will continue publishing the print edition and website.
Sports Illustrated began publishing in 1954 and covers a wide range of sports as well as an annual swimsuit edition. Authentic says Sports Illustrated has an audience of more than 120 million people online and in print.
Meredith got Sports Illustrated as part of its deal for Time Inc. last year.