(Reuters) - Media company Meredith Corp said on Monday it has agreed to sell Sports Illustrated to U.S-based entertainment company Authentic Brands Group LLC for $110 million (86.8 million pounds), as it looks to scale its digital media business.
The companies also formed a strategic partnership to build a global media platform and develop broad-based licensing programs under the Sports Illustrated brand that will include product, original content and live events.
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