Houlihan Lokey Advises Meredith on Sale of Sports Illustrated

Houlihan Lokey is pleased to announce that Sports Illustrated, a subsidiary of Meredith Corporation (NYSE:MDP), has been acquired by Authentic Brands Group (ABG) for $110 million.

As the most-read sports magazine in the world, Sports Illustrated is an undisputed leader in journalism with an audience of more than 120 million consumers. Its enterprise includes a fastest-growing top 10 sports website, storied print magazine, rising TV and digital platform, Emmy award-winning digital innovation, and enduring franchises including Sports Illustrated Swimsuit and the nationally televised Sportsperson of the Year award ceremony. The print magazine has shaped the narrative around sports culture over the last six decades, publishing thousands of covers featuring the world's most disruptive professional athletes including Michael Jordan, Muhammad Ali, Serena Williams, and Tiger Woods, as well as influential sports teams, celebrities, and political figures.

The Sports Illustrated transaction does not include the FanSided digital platform which reaches more than 40 million unique monthly users; this property is currently in the process of being sold.

Meredith is the No. 1 magazine operator in the U.S., and owner of the largest premium content digital network for American consumers and has been committed to service journalism for more than 115 years. Today, Meredith uses multiple distribution platforms—including broadcast television, print, digital, mobile, and video—to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners. 

ABG is a brand development, marketing, and entertainment company, which owns a portfolio of global entertainment and lifestyle brands. Headquartered in New York City, ABG manages, elevates, and builds the long-term value of more than 50 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers, and retailers. 

Houlihan Lokey served as the exclusive financial advisor to Meredith Corporation and assisted in initiating, structuring, and negotiating of the transaction on its behalf.