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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
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.
