Sports Illustrated is going the way of Polaroid and Kodak. Once known for its cream-of-the-crop sports photography, the iconic magazine was just sold in a $110 million deal, and the new owner has big plans to make money by licensing out the brand.
There's more bad news in the photojournalism industry today: Sports Illustrated has laid off Director of Photography Brad Smith, Photo Editor Claire Bourgeois, and Photo Director John Blackmar. This comes almost exactly 1 year after the magazine laid off its entire roster of staff photographers.
TIME's latest contract for photographers has been at the center of controversy for about a month now, and many photographers are still refusing to sign it as they campaign for more favorable terms.