Set to be Added to Russell Indexes on June
27
The Arena Group Holdings, Inc. (NYSE American: AREN) (the
“Company” or “The Arena Group”), a tech-powered media company with
40 owned and operated properties and more than 200 brands including
Sports Illustrated, TheStreet, Inc. (“TheStreet”), Parade Media
(“Parade”), and HubPages, Inc. (“HubPages”) operating on a single
technology platform, is set to join the Russell 3000®, the Russell
2000® and the Russell Microcap® Indexes at the conclusion of the
2022 Russell indexes annual reconstitution, effective after the US
market opens on June 27, according to a preliminary list of
additions posted June 3.
The Russell 3000® Index is a market-capitalization-weighted
index comprised of the 3,000 largest US stocks. The Russell 1000®
Index is a subset that includes the 1,000 largest companies and the
Russell 2000® Index is a subset that includes the 2,000 smallest
companies. FTSE Russell determines membership for its Russell
indexes primarily by objective, market-capitalization rankings and
style attributes.
“Being added to the Russell indexes is a significant
achievement, following the successful listing on the NYSE
American,” commented Ross Levinsohn, Chairman and Chief Executive
Officer of The Arena Group. “We believe our inclusion in the
indexes will improve visibility and trading liquidity, exposing us
to new institutional investors.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets
are benchmarked against Russell’s US indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the
Microcap® Index, as well as the Russell indexes reconstitution, go
to the “Russell Reconstitution” section on the FTSE Russell
website.
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $20
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
About The Arena Group
The Arena Group creates robust digital destinations that delight
consumers with powerful journalism and 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.
Forward Looking Statements
This press release includes statements that constitute
forward-looking statements. Forward-looking statements may be
identified by the use of words such as “forecast,” “guidance,”
“plan,” “estimate,” “will,” “would,” “project,” “maintain,”
“intend,” “expect,” “anticipate,” “prospect,” “strategy,” “future,”
“likely,” “may,” “should,” “believe,” “continue,” “opportunity,”
“potential,” and other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters, and include, for example, statements related to the
expected effects on the Company’s business from the COVID-19
pandemic. These forward-looking statements are based on information
available at the time the statements are made and/or management’s
good faith belief as of that time with respect to future events,
and are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed in or suggested
by the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, the
duration and scope of the COVID-19 pandemic and impact on the
demand for the Company products; the ability of the Company to
expand its verticals; the Company’s ability to grow its
subscribers; the Company’s ability to grow its advertising revenue;
general economic uncertainty in key global markets and a worsening
of global economic conditions or low levels of economic growth; the
effects of steps that the Company could take to reduce operating
costs; the inability of the Company to sustain profitable sales
growth; circumstances or developments that may make the Company
unable to implement or realize the anticipated benefits, or that
may increase the costs, of its current and planned business
initiatives; and those factors detailed by The Arena Group
Holdings, Inc. in its public filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. Should one or more of these risks,
uncertainties, or facts materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by the forward-looking
statements contained herein. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date they are made. Forward-looking statements
should not be read as a guarantee of future performance or results
and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved. Except
as required under the federal securities laws and the rules and
regulations of the Securities and Exchange Commission, we do not
have any intention or obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220608005188/en/
Investor Relations Contact Rob Fink FNK IR Aren@fnkir.com
646.809.4048
Media Contacts: Rachael Fink Public Relations Manager,
The Arena Group Rachael.Fink@thearenagroup.net
Andrew Rhodes DKC arena@dkcnews.com
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