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US swim star Michael Phelps, left, and Milorad Cavic hold a famous Sports Illustrated photo of their 100m butterfly photo finish, in which Phelps won gold at the 2008 Olympics, a sign of the iconic nature of the magazine which had its staff fired

Sports Illustrated Magazine Lays Off Staff

Staff at Sports Illustrated, the famed American sports magazine that became a fixture for athletes and fans, were laid off on Friday by publisher The Arena Group, according to the SI employees union.

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