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The brand and intellectual property of Sports Illustrated have been sold to marketing company Authentic Brands Group for 0 million.Meredith Corporation, the current owner of the iconic magazine, announced the sale on Tuesday. In an unusual arrangement, Meredith will continue to publish the Sports Illustrated magazine and website.The structure of the deal suggests that the Sports Illustrated brand is much more valuable than the storied magazine.Authentic Brands Group, which owns the brands of celebrities like Marilyn Monroe and Elvis Presley, will assume the marketing, business development and licensing of Sports Illustrated's intellectual property.Jamie Salter, CEO of Authentic Brands Group, said in a statement that Sports Illustrated's "trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment."According to the companies, potential new business opportunities include events, conferences, gambling and gaming products as well as video and television.Meredith, which is paying Authentic Brands Group an undisclosed fee to publish the Sports Illustrated magazine and website, said it would maintain the publication's editorial independence.Sports Illustrated was put up for sale last year along with Time, Fortune and Money magazines, which Meredith acquired via its purchase of Time Inc. Meredith also owns People, InStyle and Better Homes & Gardens.Salesforce CEO Marc Benioff and his wife Lynne Benioff purchased Time in September.Meredith sold Fortune to Thai billionaire Chatchaval Jiaravanon in November, and decided to take Money magazine off the market in April, turning it instead into a digital-only publication. 1715
Tesla is disputing claims by a California man that all three models of the company’s cars can suddenly speed up on their own without the driver touching the accelerator pedal.Tesla said Monday it checks when drivers report that their car accelerated on its own, and in every case where the company has the car’s data, it drove as designed.The company also claimed the man who filed a petition with federal safety officials is a short-seller of Tesla shares, referring to investors who borrow shares in a company’s stock and try to profit by replacing them after the share price falls.On Friday, the National Highway Traffic Safety Administration said it would look into a petition filed by Brian Sparks of Berkeley, California, and decide whether to open a formal investigation. Sparks’ allegations cover about 500,000 Teslas, including Model 3, Model S and Model X vehicles in model years 2013 through 2019.Sparks said Tesla owners have lodged 127 complaints with the government, covering 110 crashes and 52 injuries.Tesla, which did not respond when asked for comment on Friday, posted a statement Monday saying its electric vehicles do not accelerate on their own.The company called the petition “completely false,” adding that “the car accelerates if, and only if, the driver told it to do so, and it slows or stops when the driver applies the brake.”Sparks said in his 69-page petition that many of the Tesla accidents happened during parking, that the complaint rate was much higher than for other vehicles, and that Tesla refused to share the car’s data with owners after incidents.The highway agency has yet to verify the complaints. The people who filed complaints were not identified in NHTSA’s database. 1726

The heat of summer is still toasting much of the U.S., but the chill of winter is around the corner, and if you believe Farmers' Almanac's projection, parts of the U.S. could be blasted with cold weather this winter. The Farmers' Almanac said almost all of the U.S. is projected to have below average temperatures, with the coldest weather coming in the Midwest and Northeast. Not only will the winter be colder, but it is expected to go deeper into the spring for the Midwest and Northeast.For more info on Farmers' Almanac's projections, click 558
The body of University of Utah student Mackenzie Lueck has been found in a canyon north of Salt Lake City, police said Friday.Salt Lake City Police Chief Mike Brown said in a news conference that he was "relieved and grief-stricken" to report that Lueck's body was recovered Wednesday in Logan Canyon, about 90 miles north of Salt Lake City. Investigators were subsequently able to forensically confirm it was Lueck, Brown said.The 23-year-old was last seen in the early morning hours of June 17 when she was dropped off at a park in North Salt Lake City. There, police have said, she met another individual and vanished.Last Friday police arrested 31-year-old 673
The federal government will spend an additional billion to help farmers hurt by the US-China trade war, Agriculture Secretary Sonny Perdue announced Thursday.US farmers have been 195
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