Sports Illustrated, the magazine famed for scantily clad models on its front cover, today changed hands for $110 million (£87 million).
Parent company Meredith sold it to US entertainment firm Authentic Brands Group as Meredith looks to grow its digital media business.
The two companies also plan to build a media platform together and create content and events under the Sports Illustrated brands. Sports Illustrated has struggled in recent years to crack online.
Authentic Brands is buying Sports Illustrated (whose cover models include Kate Upton pictured), Sports Illustrated Kids, Sportsperson of the Year, Sports Illustrated Swimsuit, SI and SI TV.
“As one of the most iconic brands in sports media, SI is a cultural centrepiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine,” Authentic Brands chief executive Jamie Salter said in the statement.
Sports Illustrated swimsuit edition has featured many famous models on its front cover, including Elle Macpherson, Christie Brinkley and Tyra Banks.
