Group Black is in talks to buy a majority stake in the publisher of Sports Illustrated, according sources, its latest attempt to expand the ad inventory it can sell to marketers interested in black-owned media. The discussions with the The Arena Group Holdings, Inc. (NYSEAM:AREN) are part of a continuing effort by Group Black to forge fresh deals that allow the black-owned media company to sell its advertising space. Several marketers have committed to spending a certain portion of their advertising budgets with black and minority-owned media companies in recent years, but have said they struggle to find ad space that fits the bill.

Group Black has tried to address that issue by accumulating ad inventory that it can sell to marketers. Discussions between Group Black and the Arena Group are ongoing, and a deal may not -materialise. Representatives for Group Black didn't respond to requests for comment, and an Arena Group spokeswoman declined to comment.