For the moment, it looks like it will be at least 90 days before new Sports Illustrated publisher TheMaven unveils plans on how it will run the iconic media property.
TheMaven is paying the Authentic Brands Group for the licensing rights, but it is expected that Meredith will still be paid a fee to handle the print production — even if Meredith will no longer have a stake in any profits.
Prior to buying the rights to publish Sports Illustrated, TheMaven, headed by CEO James Heckman, had been primarily a company that sold software technology that was used by publishers from Maxim to History.com to make their websites run on a uniform platform.
Heckman said today he has no plans to scrap SI’s print edition. “We love Sports Illustrated magazine,” he texted to The Post.
“We’re going to invest in the magazine, the technology and refresh the media company into something that can compete in a modern era that requires big scale, access to distribution and digital monetization expertise,” texted Heckman.
SI at the moment is said to be raking in a profit estimated in the low-eight-figure range.
Heckman also tapped Ross Levinsohn, most recently the CEO of Tribune Interactive at Tribune Publishing, as CEO of Sports Illustrated Media by Maven.
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Heckman and Levinsohn had worked together in the past, most recently at Scout Media, where Heckman managed to buy back for a reported $10 million a digital team-sports publisher that he had sold to Fox for $60 million in 2004. Levinsohn had previously hired Heckman to be an SVP at Yahoo.
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