Authentic Brands Group Buys Rights To Muhammad Ali Intellectual Property
Authentic Brands Group (ABG) today announced the acquisition of Muhammad Ali Enterprises from CORE Media Group. ABG will own and manage the intellectual property associated with the former boxer, in partnership with the Ali family and National Entertainment Collectibles Association Chair Joel Weinshanker. This includes rights to the world's largest library of photo images of Ali, a video collection and trademark phrases (ABG). Terms of the deal were not disclosed. ABG President & CMO Nick Woodhouse said, "We bought this partly because of who Ali was as a sportsman and partly because who Ali is as a humanitarian." Woodhouse added that his company would "look for new partners based on Ali's six core principles: confidence, conviction, dedication, giving, respect and spirituality." There are around 40 "main brands that have licensed the rights to Ali, including New Era Cap, American Greetings, H&M, Dolce & Gabbana and adidas" (Darren Rovell, ESPN.com, 11/19).