Los Angeles Times, Sports Illustrated among media outlets announcing layoffs to start 2024 [FOX Business Network]
The Arena Group Holdings, Inc. (AREN)
Company Research
Source: FOX Business Network
Several media outlets have announced layoffs in January 2024 as economic challenges take a toll on the industry. Business Insider, the Los Angeles Times, TIME and Sports Illustrated are among the publications that have downsized their editorial operations as they restructure and reorient their business models to suit the changing media landscape. The latest cuts come as the media industry struggled to restore advertising revenue to pre-pandemic levels and faces rising competition from social media platforms for readers' attention. Here's a look at the details of the layoffs at these four outlets: Business Insider Business Insider, owned by multinational media conglomerate Axel Springer SE, announced that it would lay off about 8% of its staff last week as it restructures its business. "We closed out last year with a plan in place, a clear target audience, and a vision. This year is about making it happen and focusing our company and efforts towards this future," Business In
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AREN
News
- SURFER Announces New Editor-in-Chief, Special Edition Print MagazineBusiness Wire
- The Arena Group Appoints Sara Silverstein as Chief Executive Officer [Yahoo! Finance]Yahoo! Finance
- The Arena Group Appoints Sara Silverstein as Chief Executive OfficerBusiness Wire
- Ex-COO of Sports Illustrated Publisher Sues for $2 Million Pay [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Ex-COO of Sports Illustrated Publisher Sues for $2 Million Pay [BNN Bloomberg (Canada)]BNN Bloomberg
AREN
Earnings
- 11/14/23 - Miss
AREN
Sec Filings
- 4/25/24 - Form 425
- 4/25/24 - Form 8-K
- 4/1/24 - Form 10-K
- AREN's page on the SEC website