The Arena Group Holdings, Inc. - AREN STOCK NEWS

The Spun's 'Top 64 Most Annoying People in Football Media' tournament has reached the Sweet 16 stage, with over 40,000 sports fans participating in the first two rounds. Notable upsets include No. 14 seed Lee Corso defeating No. 3 seed Terry Bradshaw, and No. 11 Keyshawn Johnson beating No. 6 Joe Buck. Three No. 1 seeds (Stephen A. Smith, Skip Bayless, and Nick Wright) and one No. 2 seed (Paul Finebaum) received the most votes. The tournament, described as a 'fun, tongue-in-cheek' event by The Spun's editor-in-chief Andrew Holleran, is set to conclude next week, just before the start of NFL Week 1 games.

The Arena Group (NYSE American: AREN) reported its Q2 2024 financial results, highlighting significant cost reductions and improved financial performance. Key points include:

- Over $40 million in annual cost eliminations
- Positive Adjusted EBITDA achieved in Q2
- Revenue decreased 20.2% to $27.2 million
- Net loss narrowed to $8.2 million ($0.28 per share)
- Gross profit margin improved to 39.3%
- Operating expenses reduced by 32.1%

The company's majority shareholder, Simplify Inventions, increased financial support by expanding the credit line to $50 million and converting $15 million to equity. The previously announced business combination agreement was terminated. KPMG LLP was appointed as the new independent auditor.

Joe Manganiello graces the cover of Men's Journal's summer 2024 issue, available on July 16, 2024. The in-depth interview explores Manganiello's new ventures, including his role as host and executive producer of 'Deal or No Deal Island', which garnered 4.6 million viewers across multiple platforms in its first season. The reality show spin-off features contestants competing for over $200 million in prize money hidden on a Caribbean island.

Matt Allyn, editorial director of Men's Journal, praises Manganiello for embodying the magazine's spirit of adventure and well-being. The profile also touches on Manganiello's new relationship and his personal achievements at age 47. Readers can access the full feature story on Mensjournal.com.

June is Alzheimer's and Brain Awareness Month, and a Parade/Cleveland Clinic survey reveals that 69% of Americans contemplate their brain health yearly, with 36% under 50 and nearly a quarter of those aged 50-64 experiencing memory issues but avoiding care.

Women show higher concern than men about Alzheimer's (57% vs. 50%) but often lack awareness of their greater risk. The Women's Alzheimer's Movement (WAM) at Cleveland Clinic emphasizes the need for gender-specific education on Alzheimer's.

Encouragingly, most respondents engage in brain health activities like exercise (68%) and healthy eating (64%). Celebrity stories also inspire 56% of respondents to learn about brain health. The survey highlights a need for better education, especially among young people who hold misconceptions about Alzheimer's risk.

The Arena Group (NYSE American: AREN) has filed a lawsuit against Authentic Brands Group (ABG), the owner of Sports Illustrated, and Minute Media for allegedly stealing its proprietary code and trade secrets. Arena is seeking $200 million in damages for what it terms a 'corporate heist.' The lawsuit accuses ABG of conspiring with top-tier investment firms like CVC Capital Partners and BlackRock, and working with Minute Media to misappropriate Arena's valuable digital platform technology. Arena highlights ABG's history of predatory practices, citing a recent example involving 888 Holdings, which faced a $50 million termination fee. The case is currently pending in the federal court in the Southern District of New York.

The Arena Group has launched a new free email newsletter, 'Come Cruise With Me,' designed to help people plan the perfect cruise.

The newsletter, available every Sunday, aims to build a community of cruise enthusiasts by offering tips, exclusive deals, and Q&A sessions with experienced cruisers.

Dan Kline, executive editor of 'Come Cruise With Me,' highlights that the goal is to assist subscribers in booking the right cruise and alleviating common pain points.

Subscribers will also have the chance to participate in cruises with Kline and the community.

A dedicated website is forthcoming, promising an expanded repository of cruise-related content.

CEO Sara Silverstein supports the project, citing the popularity of Kline's content as the driving force.

EX.CO announced successful results from a partnership with The Arena Group, showing a 115% increase in gross RPMs and a 27% rise in user dwell time across their network. The collaboration allows for more video content, enhancing audience engagement and opening up monetization opportunities.

SURFER, owned by The Arena Group, partners with legendary big wave media pioneer Bill Sharp for the 2024 Big Wave Challenge, offering a $150,000 prize purse. The event celebrates big wave surfers and content creators, continuing the legacy of the XXL Big Wave Awards. Winners will be decided by judges and revealed in Portugal in October 2024.