Media Layoffs Top 3,000 in Past Year as Digital Ads Disappoint [BNN Bloomberg (Canada)]
The Arena Group Holdings, Inc. (AREN)
Company Research
Source: BNN Bloomberg
More than 3,000 editors, reporters and journalism industry professionals have lost their jobs over the past year, according to estimates by Bloomberg News, adding to what has been a devastating few decades, particularly for newspapers. The job reductions include some of the most storied names in the business. Time magazine cut 15% of its staff. Condé Nast, publisher of Vogue and the New Yorker, has let go 5%. The fate of Sports Illustrated, long the pinnacle of sports writing in the US, is up in the air after its publisher, Arena Group Holdings Inc., defaulted on a licensing payment to Authentic Brands Group, which owns the name. The layoffs coincide with a surge in union organizing. Forbes Media, whose workers first voted to unionize in 2021, announced plans to cut 3% of its staff right as employees began a three-day walkout this week. “It is yet another example of Forbes management's union-busting,” Andrea Murphy, a NewsGuild representative and statistics editor at Forbes,
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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