Authentic Brands Group is making its next move with the Sports Illustrated brand by launching a production studio. The company, which acquired SI for $110 million last year, has partnered with 101 Studios to create projects ranging from Quibi shows to feature films based on SI stories, according to The Hollywood Reporter. The first project will focus on SI’s best known covers.
It has been a tumultuous year-long run as SI owner for ABG, whose portfolio generates more than $12 billion a year in retail sales. The conglomerate operates brands like Nautica and Aéropostale and holds the licensing rights to celebrities like Marilyn Monore and Muhammed Ali.
After acquiring SI from Meredith Corporation, ABG leased the media operations to Maven Media, a deal which will pay ABG at least $150 million over 10 years. However, Maven has made several decisions that have displeased ABG, ranging from cutting 40 staffers in October, reducing print production to monthly, and laying off another 9% of staff in March, according to The Wrap.