The Arena Group is renaming itself Paradium.AI. The publisher of TheStreet, Parade and Men’s Journal expects the change to finish by the end of August.
Business Insider had it first. Steven Tweedie and Ben Shimkus obtained a staff memo from chief executive Paul Edmondson, confidential until 4:05 PM ET, five minutes after the closing bell.
The announcement that followed carried three more things. Arena refinanced its debt, closed its acquisition of InfoSentience and launched a production platform called Cutter Studios.
The quarter underneath the new name
Revenue for the second quarter came in at $22.2m. A year earlier it was $45.0m.
