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Authentic Brands Group, the owner of Sports Illustrated, has filed a lawsuit against Manoj Bhargava, the creator of 5-Hour Energy, and his publishing company, claiming they failed to make millions of dollars in payments for the rights to publish the magazine. The lawsuit, centered on a $48M licensing feud, alleges 'gangster' like behavior from Bhargava's side and accuses his company of trying to get Authentic Brands Group to 'cry uncle'. This dispute highlights a souring relationship, leading Authentic Brands Group to select Minute Media as Sports Illustrated's new publisher.
The companies fighting over Sports Illustrated are now involved in lawsuits with accusations of "gangster" like behavior. ⏬ https://t.co/2KkgNpcS5V
Authentic Brands Group, which owns Sports Illustrated, is suing Manoj Bhargava for more than $48 million after his company’s failure to meet the terms of its contract to publish the magazine. @byajperez explains the latest ⬇️
NEW on @FOS: Authentic Brands Group—the licensing company that owns Sports Illustrated—alleges in a federal lawsuit that Manoj Bhargava and his Arena Group tried to get ABG to "cry uncle” before Minute Media was tapped as SI's new publisher. https://t.co/2C8FYhgSa7
