The Arena Group Announces Workforce Reductions in Strategic Move to Transform the Business Model

NEW YORK--(BUSINESS WIRE)--Today, The Arena Group (NYSE American: AREN) has announced a significant reduction in its workforce of over 100 employees. The Company, which has substantial debt and recently missed payments, is completing these cost-cutting measures to initiate a transformative shift towards a streamlined business model. In parallel, the Company is actively engaged in negotiations with Bridge Media Networks, LLC, (“Bridge Media”) a wholly owned subsidiary of Simplify Inventions, LLC (“Simplify” ...