The Arena Group Finalizes AMG/Parade Acquisition, Powers Growing Lifestyle Vertical and Expands Sports Offerings
04 Avril 2022 - 2:05PM
Business Wire
Acquisition Brings Company’s Digital Audience
To More Than 121.9 Million Users Monthly
The Arena Group (NYSE American:
AREN) (the “Company” or “The Arena Group”) today announced the
completion of its acquisition of premium multimedia content company
AMG/Parade. Its brands include Parade Media, which reaches more
than 54 million domestic consumers each month in digital and print
and will anchor The Arena Group’s new Lifestyle vertical and expand
the Company’s Sports vertical.
“We are thrilled to formally welcome AMG/Parade to The Arena
Group family of media brands. Their storied brands and content
garner incredible reach and will immediately create and anchor a
new Lifestyle Arena for our business while reinforcing our status
as a leading Sports content creator,” said Ross Levinsohn, Chairman
and CEO of The Arena Group. “Our highly efficient, data-driven,
technology-powered media platform, coupled with editorial teams who
create distinct content, present an exciting opportunity to grow
these brands for the long term.”
Parade Media Lifestyle brands, respectively led by Parade,
Relish, and Spry Living, join Lifestyle brands owned and operated
by The Arena Group like HubPages, Fashionista, and Pet Helpful. The
acquisition brings Arena’s total unique visitors (UVs), according
to ComScore, to 121.9 million. The Company ranks #34 in the U.S.
property rankings, up from #74 just one year ago.
Unique visitor (UV) growth for The Arena Group and AMG/Parade
properties is significant. According to ComScore:
- In February, The Arena Group’s Sports vertical, Sports
Illustrated Media Group (“SIMG”), more than tripled UVs year over
year to reach 86 million digital users in February and #4 in the
sports category.
- After integrating The Spun in June of 2021 to SIMG, the digital
and social sports brand saw a 154% increase in UVs, reaching more
than 36 million UVs per month in November.
- Arena’s Finance vertical, TheStreet Finance Group, increased by
249% in February vs. October 2021 to more than 17 million monthly
UVs. TheStreet grew monthly UVs by 239% in February vs. November
2021 under new editorial and subscription product leadership.
- Parade.com has seen a 584.17% jump in audience growth since
2018, with 44 out of the last 48 months showing year-over-year
increases. The lifestyle site’s audience increased 74%
year-over-year during 2021 and reached a new high in January 2022
of 16.4 million UVs.
Per the acquisition agreement, The Arena Group acquired 100% of
the issued and outstanding equity interests of AMG/Parade for a
purchase price of $16.3M, net of cash acquired, and common equity
of the Company. The Company will fund the purchase from a completed
underwritten public offering earlier in the quarter, generating
$31.5 million in net proceeds.
About The Arena Group
The Arena Group creates robust digital destinations that delight
consumers with powerful journalism, news about the things they love
– their favorite sports teams, advice on investing, the inside
scoop on personal finance, and the latest on lifestyle essentials.
With powerful technology, editorial expertise, data management and
marketing savvy, the transformative company enables brands like
Sports Illustrated, TheStreet, and Parade to deliver highly
relevant content and experiences that consumers love. To learn
more, visit www.thearenagroup.net.
About AMG/Parade
AMG/Parade develops and distributes premium content on digital,
video and print platforms in the lifestyle, celebrity, food &
wellness, sports and outdoor verticals. Its brands include Parade,
Relish, Spry Living, Athlon Sports, and Athlon Outdoors. Its
digital products have a combined 119 million monthly unique users
and the related print products have a combined audience of 257
million.
Cautionary Note Regarding
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements relate to future events or future performance and
include, without limitation, statements concerning the Company’s
business strategy, future revenues, market growth, capital
requirements, product introductions, expansion plans and the
adequacy of its funding, and plan to uplist to the NYSE American
Exchange. Other statements contained in this press release that are
not historical facts are forward-looking statements. The Company
has tried, wherever possible, to identify forward-looking
statements by terminology such as “may,” “will,” “could,” “should,”
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates” and other comparable terminology.
The Company cautions you that any forward-looking statements
presented in this press release are based on the beliefs of,
assumptions made by, and information currently available to us.
Such statements are based on assumptions, and the actual outcome
will be affected by known and unknown risks, trends, uncertainties,
and factors that are beyond the Company’s control or ability to
predict. Although the Company believes that its assumptions are
reasonable, they are not guarantees of future performance, and some
will inevitably prove to be incorrect. As a result, the Company’s
actual future results can be expected to differ from its
expectations, and those differences may be material. Accordingly,
you should use caution in relying on forward-looking statements,
which are based only on known results and trends at the time they
are made, to anticipate future results or trends. Certain risks are
discussed from time to time in the Company’s filings with the SEC,
including but not limited to, its Annual Report on Form 10-K for
the year ended December 31, 2020, and any subsequently filed
quarterly reports on Form 10-Q.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Except as required by law, the Company is not
obligated to publicly release any revisions to these
forward-looking statements to reflect the events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220404005368/en/
Media: Andrew Rhodes DKC
arena@dkcnews.com
Rachael Fink Manager, Public Relations The Arena Group
Rachael.Fink@thearenagroup.net
The Arena Group Investors: Rob Fink FNK IR 646-809-4048
aren@fnkir.com
Arena (AMEX:AREN)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Arena (AMEX:AREN)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024