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Champion sportswear to be sold

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Hanesbrands announced plans to sell the Champion sportswear brand in a deal valued at up to $1.5 billion.

Authentic Brands Group, the owner of Reebok, Forever 21 and Quiksilver, is the buyer.

Champion, which started in 1919, reported a 30% decrease in U.S. sales last year.

Read more from CNN.

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