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Companies Started During Recession
By siliconindia
Sports Illustrated
Sports Illustrated was launched in 1954, during the 1953-1954 recession, by Henry Luce. At a time, when sports was below far away from the attention of serious journalism, Luce wanted to launch a magazine which was into general sports with a national following. Even after being advised to let go of the idea, Luce, who was not a sports fan himself, decided to go ahead with the idea. In its initial years, Sports Illustrated was targeted at the activities of the upper class and featured yachting, safaris but Luce’s attention was brought to other sports during the Winter Olympic Games of 1956. Sports Illustrated now has over 3.5 subscribers and is read by around 23 million readers every week in the U.S.
