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Meredith sells Sports Illustrated for $110M to licensing company Authentic Brands

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Wall Street Journal: Des Moines-based Meredith Corp. agreed to sell Sports Illustrated for $110 million, more than a year after putting it on the block, but that doesn’t mean the fabled sports magazine is leaving the family. Instead, Meredith will continue to publish the print magazine, manage its website, and will still be responsible for advertising, video and social media. The buyer, licensing company Authentic Brands Group LLC, will collaborate on digital and social strategy, but it is setting its real sights elsewhere: parlaying the Sports Illustrated name into a licensing empire.