Sports Illustrated rights holder Minute Media lays off 12% of staff and reverses its ~$200M deal to buy VideoVerse, an AI platform to extract sports highlights
The unicorn says restructuring reflects push for efficiency and long-term growth amid changes in the media market …
$200M INDIAN AI ACQUISITION SCRAPPED AFTER ITS NUMBERS UNRAVELED Minute Media, the publisher of Sports Illustrated, laid off 12% of their staff today. They also unwound their $200M acquisition of Indian AI startup VideoVerse, a deal they closed just eight months ago, citing [imag…