An editor has nominated this article for deletion. You are welcome to participate in the deletion discussion , which will decide whether to keep it. |
| Company type | Subsidiary |
|---|---|
| Industry | Sports media, Publishing |
| Founded | 1967 |
| Founder | Jerry McCoin |
Key people | Paul Edmondson (CEO, The Arena Group) |
| Parent | The Arena Group (2022–present) |
| Website | athlonsports |
Athlon Sports Communications, Inc., doing business as Athlon Sports (formerly Athlon Media Group and AMG/Parade), is an American sports media publisher owned by The Arena Group, which is based in New York City. Founded in 1967 by Jerry McCoin, the company is best known for publishing preseason annuals on professional and college sports. [1] [2]
In 1997, Forbes described Athlon as the "U.S.'s largest publisher of sports annuals." [3] Historically a print-focused entity, Athlon Sports has operated as a subsidiary of The Arena Group since April 2022. [4] While the brand has transitioned to a digital-first daily news model, it continues to publish its legacy single-issue preseason magazines annually. [5]
Athlon Sports was established by Jerry McCoin in Nashville, Tennessee. [6] McCoin, a college football fan, launched the company in 1967 to provide in-depth information on Southeastern Conference (SEC) teams through a regional preview magazine. [7]
In the early 1980s, Nashville businessman Spencer Hays acquired Athlon Sports and became its majority owner. [8] Hays, who also owned Southwestern/Great American and the Tom James clothing company, served as chairman of the board and controlling shareholder. [9] Hays remained the majority owner until his death in March 2017. [10]
By the mid-1990s, Athlon had expanded into a national brand, becoming one of several prominent college football preview magazines competing for readers alongside Lindy's Sports, Street & Smith's, and Phil Steele's College Football Preview. [11] [12]
In February 2006, Athlon acquired Grogans Sports Information Inc., a fantasy sports publisher based in Littleton, Colorado, that published the Grogans Fantasy Football Analyst in-season scouting reports. [13]
In the spring of 2010, Athlon hired media industry veteran Stephen Duggan as president. Duggan, the former co-CEO of Alpha Media (publisher of Maxim ), acquired a minority stake in the company. [14]
In June 2010, Anthony Flaccavento was appointed as publisher for Athlon Sports magazine. [15] That fall, Athlon launched a national monthly magazine distributed through 400 newspaper partners reaching 7 million homes. [14]
However, the company faced significant financial challenges during the Great Recession. According to court documents, to raise capital for payroll and operating expenses, Athlon was "forced to take extraordinary measures." By October 2011, the company sold its main asset—the building that had housed the business for twenty years—for approximately $3.9 million. The building had served as collateral for approximately $1 million line of credit, so proceeds were used to pay off that debt with the remainder retained for working capital. All key employees except Duggan took pay cuts, and the company surrendered key-man life insurance policies on the then-75-year-old Spencer Hays. [9]
In December 2011, Duggan resigned as CEO less than two years after taking the position. Spencer Hays took over as CEO. [8] A restructuring plan dubbed "New Athlon" was developed, with a planned $2 million investment from Hays and certain employees. [9]
In August 2013, Athlon Media Group acquired the print publishing rights to three newspaper magazines from PGOA Media: American Profile, Relish, and Spry (later Spry Living). [16]
In September 2014, Athlon acquired Parade and Dash magazines from Advance Publications. Following the acquisition, the company rebranded as AMG/Parade. [17] The acquisitions, combined with Gannett's closure of USA Weekend in December 2014, left Athlon as the dominant publisher of nationally distributed newspaper magazines. The New York Times reported that the moves created "a virtual monopoly in the category." CEO Chuck Allen stated: "We are an operator, not a flipper or seller." Shortly after the Parade acquisition, Athlon closed Dash and merged it into Relish. [16]
In July 2016, AMG/Parade acquired the titles of Harris Publications after a judge ruled in its favor over a competing bid from D&N Publications. Harris had shut down in April 2016, and AMG/Parade acquired 74 titles. [18]
In January 2022, The Arena Group (formerly TheMaven, Inc.) announced its intent to acquire AMG/Parade. [4] The acquisition closed in April 2022 for total consideration of approximately $18.1 million. The purchase price comprised a cash payment of approximately $15.1 million and the issuance of 314,103 restricted shares of Arena Group common stock valued at $3.0 million. [19] The sellers included Charles W. Allen, Mary Lee Vanderkooi, Robert T. Doster, Donald M. Malone, and Tracey Altman. [19]
The acquisition included AMG/Parade's other properties: Parade , Relish, Spry Living, and Athlon Outdoors. [20] In September 2022, The Arena Group announced it would discontinue the print editions of Parade (after November 2022), Relish, and Spry Living (after October 2022) to focus on digital expansion. [21] Athlon Sports continued as a sports property alongside The Arena Group's then-license of Sports Illustrated . [4]
Following the termination of The Arena Group's Sports Illustrated license by Authentic Brands Group in early 2024, with the license subsequently transferred to Minute Media, Athlon Sports became the primary focus for The Arena Group's owned-and-operated sports portfolio. [22] [23] Awful Announcing described Athlon Sports as Arena's "biggest remaining sports property" following the transition. [24]
Under Arena Group ownership, Athlon adopted a "competitive publishing" strategy. CEO Paul Edmondson described this as "a new model designed for 24/7 breaking news coverage where multiple talented teams compete." [25]
In September 2024, Athlon revived its NBA Preview magazine for the first time since 2010, a 160-page publication featuring regional covers with LeBron James, Jayson Tatum, Jalen Brunson, Stephen Curry, and Victor Wembanyama. [26]
In 2016, the company was involved in Athlon Sports Communications, Inc. v. Stephen C. Duggan, a legal case heard by the Tennessee Court of Appeals. The dispute centered on a separation agreement and stock valuation following Duggan's departure during the company's restructuring.
Duggan, a former executive hired in 2010 to modernize the company's publishing model, contested the valuation of his equity interest. In the 2012 restructuring, the company initially offered dissenting shareholders $0.01 per share, which was later increased to $0.10 per share.
Duggan had made a counter-proposal to buy Athlon for as much as $0.25 per share, which was not supported by other board members.The case provided public insight into the financial challenges the print-media company faced during the Great Recession, including the sale of corporate real estate, employee pay cuts, and the surrender of life insurance policies to maintain operations. [9]