Saudi Arabia’s Turki Alalshikh Acquires Ring Magazine For $10M
To enhance the kind of journalism dedicated to boxing, Saudi Arabia’s head of General Entertainment Authority, Turki Alalshikh, said that Ring Magazine has been bought. The acquisition for an estimated price of $10 million will see the historic boxing publication return to print in both the United States and the United Kingdom.
Alvarez also announced on his Instagram account, and the news was further supported by the former owner, Oscar De La Hoya. He is the popular professional boxer and the current chief executive of Golden Boy Promotions. This is a new era in “The Bible of Boxing” which was first published in 1922 and has been regarded as an authority in the industry.
Renovating a Tradition and Introducing New Changes
The fame of Ring Magazine, which Nat Fleischer created, has remained popular over the years. The problem was that it went out of print two years ago because the industry faced certain financial downturns, yet Revu continued to be a power player, chiefly because of its scrupulous rankings. Turki Alalshikh has even stated his desire to bring all these rankings back to their previous format which saw an independent body of renowned industry personalities in the management. His acquisition plan envisions the popular ranking system being reintroduced and a much broader coverage area that will encompass every aspect of the sport.
By acquiring the magazine, Turki Alalshikh is taking action that has reflected his passion for boxing rankings over several years. He has in the past complained about some positions in the sport, and seems determined to build a better order through Ring Magazine. The decision to acquire Ring was made months ago after markets started speculating on Turki Alalshikh’s intentions to launch a new website, boxing.net for boxing news and information and instead to give a new lease of life to the publication.
Expanding Ring Magazine’s Offerings
As Ring Magazine gears up to go back into print, Turki Alalshikh has long-term plans that will make Ring closer to the fans globally. For the next few years, boxing is to unveil merchandise that has never been seen before and an annual event awarding the best boxing talents depending on performance, with such glamour as befits this sport. Also, discussions about the digitalization of the magazine’s huge archive are in progress, which will allow fans to watch numerous historical boxing materials.
Turki Alalshikh has been keen to stress the editorial independence of the new magazine and to remind people that it will not be influenced by other projects such as Saudi Arabia’s Riyadh Season Events entertainment authority. This commitment shows the new owners’ respect for Ring Magazine’s traditions and its authority in boxing. Turki Alalshikh would become responsible for this magazine after Oscar De La Hoya bought it for $7 million in 2007, and he was full of confidence.
De La Hoya said that after delaying letting go of the Ring Magazine for quite some time, Alalshikh’s offer was something reasonable in the current economic reality facing the print media business. He understood the challenges that precipitated the many changes that saw the magazine shift from being a monthly print run in 2022. He said that the current ownership is perfect for the magazine, which is seeking to revolutionize boxing journalism.
Conclusion
Alaslhikh’s financial support and vision of Ring Magazine are poised to take it from where it is. With such steps as the return of Ring Magazine to the newsstands and adding innovations such as merchandise, awards, and even digitally based archives, Alalshikh is in the process of developing Ring Magazine to be at heights it has never been in the realm of sports media.
