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Posted 05 January, 2024

Arena Group Holdings, Inc. appointed new CEO

CEO Change detected for ticker NYSE:AREN in a 8-K filed on 05 January, 2024.


  On January 4, 2024, the Board of Directors of the Company (the "Board") accepted the resignation of Manoj Bhargava from his position as interim Chief Executive Officer effective immediately.  

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Overview of Arena Group Holdings, Inc.
Media/Entertainment • Motion Picture/Sound Recording
The Arena Group Holdings, Inc. is a data-driven media company that focuses on building deep content verticals powered by a digital media platform (the Platform), empowering premium publishers who impact, inform, educate, and entertain. It focuses on leveraging the Platform and iconic brands in targeted verticals to maximize the audience, improve engagement, and optimize monetization of digital publishing assets for the benefit of its users, advertiser clients, and its owned and operated properties as well as properties the firm runs on behalf of its independent publisher partners. The company operates the media businesses for Sports Illustrated, TheStreet, Inc., and College Spun Media Incorporated. It also powers independent publisher partners, including Biography, History, and FanNation. The company was founded by James C. Heckman Jr. on October 1, 1990 and is headquartered in New York, NY.
Market Cap
$42.0M
View Company Details
Arena Group Holdings, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory


On January 4, 2024, the Board of Directors of the Company (the "Board") accepted the resignation of Manoj Bhargava from his position as interim Chief Executive Officer effective immediately. Mr. Bhargava stepped down from this role to avoid any conflicts of interest which may arise as part of the pending transactions with affiliates of Mr. Bhargava including the Proposed Transaction (as defined below).


On the same day, the Board engaged FTI Consulting Inc., ("FTI"), a global business advisory firm, to assist the Company with its turnaround plans and forge an expedited path to sustainable positive cash flow and earnings to create shareholder value (the "FTI Engagement"). FTI is a financial restructuring firm acceptable to RGPL.


The FTI Engagement was finalized on January 5, 2024. As of part of it, Jason Frankl, a senior managing director of FTI, was appointed as the Company's Chief Business Transformation Officer. Mr. Frankl has over twenty-four (24) years of financial advisory, capital markets and corporate governance experience and will report directly to the Board.