The Arena Group, which owns brands including Sports Illustrated and TheStreet, has announced a $16m deal to buy the publisher of Parade magazine.
Arena’s acquisition of AMG/Parade comes days after the company unveiled plans to ‘uplist’ its shares to the New York Stock Exchange from the smaller OTCQX.
In a press release announcing the AMG/Parade deal, Arena (formerly known as Maven) revealed that it generated record revenues of more than $180m in 2021, up 41% on the previous year.
Source: Press release
Deal value: $16m
Country: US
Status: Official
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