The bidding for iconic sports magazine Sports Illustrated is heating up, The Post has learned.
Private equity giant TPG, which owns one of the biggest sports talent agencies in the world in Creative Artists Associates, is hot and heavy in the hunt to buy the mag, known for its swimsuit issue, from publisher Meredith Corp., sources said.
Meredith put SI on the market last year for $150 million — and is said still to be hoping for that amount even though the sales process has now dragged on for a full year.
Just last month, Meredith Executive Chairman Steve Lacy described the biding process as a “horse race,” saying there were two parties vying for the mag.
One of them was former Milwaukee Bucks star Ulysses “Junior” Bridgeman, who built a successful post-NBA career as a fast food franchisee and Coca-Cola bottler.
News Corp., the parent of the NY Post, was also said to be looking at SI but was more interested in its digital property FanSided, sources said.
Bridgeman could not be reached for comment. News Corp. declined to comment.
Among the sports stars CAA represents are retired Yankees captain Derek Jeter, NY Giants quarterback Eli Manning,retired quarterback Peyton Manning and Cy Young Award winner and Mets ace Jacob deGrom.
TPG, led by Jim Coulter, is no stranger to the media business, having pumped $450 million into Vice Media in 2017. It’s also a big backer of former Vanity Fair editor-in-chief Graydon Carter‘s new digital newsletter to be called Air Mail, slated for July launch.
Meredith originally picked up SI in January 2018 with its $2.8 billion acquisition of Time. It put SI on the block in March 2018 along with three other unwanted magazines from the deal: Time, Fortune and Money.
TPG and Meredith declined to comment but Meredith had said earlier that it hoped to be able to announce deals by the end of its fiscal year on June 30.