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Meredith Corporation Sells Sports Illustrated Intellectual Property to Authentic Brands Group for $ 110 Million, Both Companies announced on Tuesday.

The magazine itself will still be managed by Meredith Corporation under the new two-year contract in which Meredith will pay to Authentic Brands an undisclosed license fee allowing it to continue to exploit the editorial production of the print magazine and SI.com .

Authentic Brands will assume the licensing, business development and marketing functions for the Sports Illustrated brand. He will also receive the associated SI brands, including the Sports Illustrated swimsuit, the Sports Illustrated Kids and the sportsman of the year. Business opportunities include events, conferences, cash and gambling products, as well as video and television projects.

"The trusted name of SI and the dedicated followers that followed paved the way for the brand to become a leader in lifestyle and entertainment," said Jamie Salter, Founder, President and CEO of Authentic Brands. .

OPINION: The issue of the Sports Illustrated swimsuit has changed and my view has changed