Authentic Brands Group-backed Sports Illustrated and CatchCorner to create the joint venture.

Authentic Brands Group-backed Sports Illustrated, an American sports magazine, and CatchCorner, a Toronto-based company that is modernizing the recreational sports and fitness industry, agreed to create the joint venture. Financial terms were not disclosed. "Sports Illustrated is not only an iconic media brand but also the most trusted name in sports. We are excited to launch this partnership and together revolutionize the recreational sports and fitness industry," Jonathan Azouri, CatchCorner CEO.