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Photo: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images

Mega brand management company Authentic Brands Group is going public.

Details: That's the company that owns the rights to dozens of brands, like Brooks Brothers, Forever 21 and Aeropostale.

Why it matters: ABG picked up many of its brands in bankruptcy auctions. Bankrupt retailers are popular targets for brand management companies.

  • Competitors Marquee Brands and WHP Global also recently picked up Sur La Table and Toys “R” US, respectively. 
  • Brand management companies profit from the royalties generated by all the sales. 

Catch up quick: ABG is now the third-largest licensor in the world, per 2019 retail sales.

  • Disney is the largest, followed by Meredith Corporation.

Editor’s note: This story has been updated to reflect the brands that Authentic Brand Group owns.

Go deeper

Exclusive: MEL Magazine acquired from Dollar Shave Club by Recurrent Ventures

Mel Magazine

Recurrent Ventures, a venture-equity-backed digital media company, is acquiring MEL Magazine, a men's health and culture publication, from Dollar Shave Club

Why it matters: The acquisition will bring MEL Magazine back to life. The outlet had been backed by Dollar Shave Club since it was started six years ago, but the financial relationship ended in March, leaving MEL's staffers without jobs and forcing the publication to go dormant for a few months.

Updated 7 hours ago - World

U.S. airstrike kills senior al-Qaeda leader in Syria, DOD says

A displacement camp near the village of Qah in Syria's northwestern Idlib province. Photo: Ahmad Al-Atrash/AFP via Getty Images

A U.S. airstrike in northwest Syria on Friday killed senior al-Qaeda leader Abdul Hamid al-Matar, U.S. Central Command said in a statement.

Why it matters: Syria serves as a "safe haven" for the extremist group to plan external operations, according to U.S. Army Maj. John Rigsbee.

Updated 13 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.