Proven Leader, Promoted from General Manager of
Finance Arena
On April 19, 2024, the Board of Directors of The Arena Group
Holdings, Inc. (NYSE American: AREN) appointed Sara Silverstein as
the Company’s Chief Executive Officer, effective immediately.
Cavitt Randall will remain Chairman of the Board and continue to be
an active voice and asset to the leadership team.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240422547644/en/
Sara Silverstein, New Arena Group Chief
Executive Officer (Photo: Business Wire)
Silverstein joined Arena Group to manage TheStreet in 2021.
Under her leadership as General Manager of the Finance Arena,
TheStreet became one of the fastest-growing business news sites in
the U.S., experiencing a 500% growth in audience and a 300%
increase in ad revenue.
“Sara has led one of the fastest-growing, most innovative and
profitable sectors within the Company,” said Cavitt Randall, former
CEO. “We believe that her wealth of experience, strategic vision
and deep understanding of our industry – coupled with her
leadership style, passion for innovation and collaboration – will
help guide our company through this transformative time.”
Silverstein has a degree in mathematics from the University of
Colorado and started her career at a hedge fund. She has been
working in the media industry for the past 14 years since receiving
her MBA from the University of Chicago Booth School of Business.
Silverstein held positions at Bloomberg Media and Business Insider.
Sara will be leading the Company from their new Park Avenue office
in New York.
“The Arena Group is poised for exceptional growth in this
evolving media landscape,” said Silverstein. “Our diverse portfolio
of trusted brands, each with a dedicated audience, presents a
unique opportunity. By prioritizing audience needs and staying
adaptable, we believe that we will build a sustainable presence,
ensuring The Arena Group’s continued success.”
The Company currently owns a portfolio of more than 265 brands,
reaching 100 million users monthly. Visit TheArenaGroup.net to
learn more.
About The Arena Group
The Arena Group (NYSE American: AREN) is an innovative
technology platform and media company with a proven cutting-edge
playbook that transforms media brands. Our unified technology
platform empowers creators and publishers with tools to publish and
monetize their content, while also leveraging quality journalism of
anchor brands like TheStreet, Parade, Men’s Journal and Athlon
Sports to build their businesses. The company aggregates content
across a diverse portfolio of over 265 brands, reaching over 100
million users monthly. Visit us at thearenagroup.net and discover
how we are revolutionizing the world of digital media.
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
proposed strategic transaction with Simplify Inventions, including
the Company’s ability to complete the transaction and the potential
benefits thereof, the Company’s anticipated restructuring of its
indebtedness, the Company’s anticipated future expenses and
investments, business strategy and plans, expectations relating to
its industry, market conditions and market trends and growth,
market position and potential market opportunities, and objectives
for future operations. 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 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 remaining effects of the
COVID-19 pandemic and impact on the demand for the Company
products; 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 Company in its
public filings with the SEC, including its Annual Reports on Form
10-K and Quarterly Reports on Form 10-Q. Important factors that
could cause actual results relating to the pending transaction with
Bridge Media Networks to differ materially from such plans,
estimates or expectations include, among others: (1) that one or
more closing conditions to the transactions, including certain
regulatory approvals, may not be satisfied or waived, on a timely
basis or otherwise, including that a governmental entity may
prohibit, delay or refuse to grant approval for the consummation of
the proposed transactions, may require conditions, limitations or
restrictions in connection with such approvals or that the required
approval by the stockholders of The Arena Group may not be
obtained; (2) the risk that the proposed transactions may not be
completed in the time frame expected by the parties, or at all; (3)
unexpected costs, charges or expenses resulting from the proposed
transactions; (4) uncertainty of the expected financial performance
of the combined company following completion of the proposed
transactions; (5) failure to realize the anticipated benefits of
the proposed transactions, including as a result of delay in
completing the proposed transactions or integrating Bridge Media
Networks and The Arena Group; (6) the ability of the combined
company to implement its business strategy; (7) difficulties and
delays in achieving revenue and cost synergies of the combined
company; (8) any inability to retain and hire key personnel; (9)
the occurrence of any event that could give rise to termination of
the proposed transactions; (10) potential litigation in connection
with the proposed transactions or other settlements or
investigations that may affect the timing or occurrence of the
proposed transactions or result in significant costs of defense,
indemnification and liability; (11) evolving legal, regulatory and
tax regimes; (12) changes in economic, financial, political and
regulatory conditions, in the United States and elsewhere, and
other factors that contribute to uncertainty and volatility,
including natural and man-made disasters, civil unrest, pandemics,
geopolitical uncertainty and conditions that may result from
legislative, regulatory, trade and policy changes associated with
the current or subsequent U.S. administration; (13) the ability of
Bridge Media Networks, The Arena Group and the combined company to
successfully recover from a disaster or other business continuity
problem due to a hurricane, flood, earthquake, terrorist attack,
war, pandemic, security breach, cyber-attack, power loss,
telecommunications failure or other natural or man-made event; (14)
the impact of public health crises, such as pandemics and epidemics
and any related company or governmental policies and actions to
protect the health and safety of individuals or governmental
policies or actions to maintain the functioning of national or
global economies and markets; (15) actions by third parties,
including government agencies; (16) potential adverse reactions or
changes to business relationships resulting from the announcement
or completion of the transactions; (17) the risk that disruptions
from the proposed transactions will harm Bridge Media Networks and
The Arena Group, including current plans and operations; (18)
certain restrictions during the pendency of the acquisition that
may impact Bridge Media Networks’ or The Arena Group’s ability to
pursue certain business opportunities or strategic transactions;
(19) Bridge Media Networks’, The Arena Group’s and the combined
company’s ability to meet expectations regarding the accounting and
tax treatments of the proposed transactions; (20) delays in Bridge
Media Networks attracting advertisers or executing its business
growth strategy; (21) continued fragmentation of audiences and a
reduction in the number of television subscribers; (22) decreases
in advertising spending or advertising demand or the demand for
Bridge Media Networks programming; (23) increased competition for
programing, audiences and advertisers; (24) loss of Bridge Media
Networks’ key affiliate customer, Agency 5; (25) changes in
government regulations, licensing requirements, or FCC’s rules and
regulations and the applicability of such rules and regulations to
Bridge Media Networks; (26) failure to identify strategic
acquisitions candidates or achieve the desired results of strategic
acquisitions; (27) loss of material intellectual property rights of
Bridge Media’s programming, technology, digital and other content;
(28) labor disputes, increasing demand for creative talent and
union activity; (29) loss of key employees or the inability to
attract and retain skilled employees; (30) inability to or
limitations on raising additional capital in the future. The
foregoing list of factors is not exhaustive and (31) and those
factors detailed by the Company in its public filings with the SEC,
including its Annual Reports 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
SEC, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240422547644/en/
Investor Relations Contact: Rob Fink FNK IR Aren@fnkir.com
646.809.4048
Simplify Inventions, LLC Contact: Steve Janisse 404-574-9206
Steve.janisse@newsmakersmedia.com
Arena (AMEX:AREN)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Arena (AMEX:AREN)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
