Report: Group Black In Talks To Buy SI Pub

Group Black is in talks to buy a majority stake in the publisher of Sports Illustrated, according to The Wall Street Journal citing people familiar with the matter, its latest attempt to expand the ad inventory it can sell to marketers interested in Black-owned media.

The discussions are part of a continuing effort by Group Black to forge fresh deals that allow the Black-owned media company to sell its advertising space. Arena owns more than 50 publications including Men’s Journal, Parade Media and TheStreet, and has a 100-year license from Authentic Brands Group to publish Sports Illustrated.

Several marketers have committed to spending a certain portion of their advertising budgets with Black- and minority-owned media companies in recent years, but have said they struggle to find ad space that fits the bill. Group Black has tried to address that issue by accumulating ad inventory that it can sell to marketers to fulfill those goals. 

Discussions between Group Black and the Arena Group are ongoing, and a deal might not materialize, the people said. Representatives for Group Black didn’t respond to requests for comment, and an Arena Group spokeswoman declined to comment. 

Group Black this month said it has a deal with Comcast’s NBCUniversal to sell ads in shows on its Peacock streaming service that are popular among Black audiences.   

Group Black has recently considered large acquisitions, including for Paramount’s BET, Vice Media and Bustle Digital Group, though such a deal hasn’t materialized.