Sports Illustrated's (SI) entire staff was notified today that they were being laid off. SI's parent company, the Authentic Group, has terminated its deal with publisher the Arena Group, after Arena missed a recent $3.75 million payment.
Staffers at Sports Illustrated were notified on Friday of massive layoffs—some immediately, others in short time.
Authentic, the licensing group that purchased Sports Illustrated for $110 million from Meredith five years ago, has terminated the agreement it holds with The Arena Group to publish SI in print and digital, according to an email obtained by Front Office Sports.
That move comes three weeks after Arena missed a $3.75 million payment that breached the company’s SI licensing deal, which began in 2019.
Hal Turner Editorial Commentary
Under the Biden illegitimate Presidency, obtained through a stolen election by mail-in Ballot fraud, the US economy has utterly tanked.
Falsified job numbers from the Bureau of Labor Statistics are now the norm, with "revisions" to the announced numbers, coming months later, showing the disaster that is becoming the US Economy.
Companies can't make their loan payments, and some can no longer make Payroll.
Consumers aren't buying because of the huge numbers of layoffs.
Those families that had savings, got wiped out by the COVID-19 lockdowns, and never recovered.
Things under the Biden illegitimacy are getting worse by the day.
Yet the Stock Market continues to break records because cash - printed out of thin air by the federal reserve - goes to banks, which buy stocks and bonds, thus artificially propping-up stock markets.
Earnings of companies are down in very many cases, but clearly not all, and things are getting worse and worse.
The mass-media simply does not report the underlying reality, instead focusing on the propped-up numbers, while more an more people are laid off, more and more companies miss debt payments, and/or file Bankruptcy.
The theft of the US Presidency in the November, 2020, election, has proved to be a literal death knell for the greatest economy on earth, which has, since the theft, focused on idiocy like "Diversity, Equity, and Inclusiveness" instead of knowledge, experience, skill, merit, and quality of work. Corporations are now being told to embrace sick deviancy, and when they do, economic disaster hits them. Want proof?
How it started: Sports Illustrated, under the guise of "inclusiveness" put a trans-sexual dude in a swimsuit on the cover of their 2023 annual swimsuit edition.
How it's going: All of the staff at Sports Illustrated was fired today. Get woke, Go broke ... strikes again.
Political correctness, being forced upon companies by ghastly, hook-nosed, financial people, is literally killing what's left of the American economy.
If the American people do not start putting handcuffs on this movement, or nooses around the necks of those pushing it, America will be doomed.
