Sports Illustrated sold for $110 million to Authentic Brands Group

Sports Illustrated magazine, which Meredith Corp. bought as part of a deal with Time Inc.last year, has been sold for $110 million to Authentic Brands Group. This according to a story reported by AP.

While ownership will change hands,  Meredith will continue publishing the print edition and website under a licensing deal that lasts for the next two years.

Among other things, Authentic handles Frye and Tretorn brands and parts of the Muhammad Ali and Elvis Presley estates.

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.