Jamie Salter's ABG has added Sports Illustrated to a portfolio that includes stars from Marilyn Monroe to Muhammad Ali along with brands like Hickey Freeman and Juicy Couture. Late last night, he added another to his brand portfolio: ABG announced the purchase of the intellectual property of Sports Illustrated from Meredith Corporation for $110 million. Meredith has now raked in approximately $450 million from the sale of Time, Fortune and Sports Illustrated in its fiscal 2019. He acquired the latter brand in 2015 as part of a $150 million deal that gave Salter the bulk of the Elvis Presley business (a piece of Graceland included). “You can sell X amount of Marilyn Monroe fragrance at a mass-market retailer, or you can do a deal with Chanel No.

Source: Forbes May 28, 2019 17:21 UTC