Arena Group Holdings Stock Rises Amid Acquisition Talks With Group Black

Media company Group Black is in talks to acquire a majority stake in Arena Group Holdings (NYSEAMERICAN: AREN), the publisher of more than 50 publications, including Sports Illustrated, reported The Wall Street Journal.

The news of potential acquisition talks caused a surge in Arena Group Holdings' stock price in post-market trading with shares closing Monday up 12.60% at $4.11 and up 7.54% after market at $4.42.

Group Black's Expansion Strategy: Group Black, which was co-founded in 2021 by Black entrepreneurs Travis Montaque, Richelieu Dennis and Bonin Bough, aims to expand the ad inventory it can sell to marketers interested in Black-owned media.

By acquiring a majority stake in Arena Group, Group Black intends to access a wide range of publications, including Sports Illustrated, Men's Journal, Parade Media and TheStreet, to offer advertising space that meets the goals of marketers committed to supporting Black- and minority-owned media companies.

Challenges and Opportunities in Ad Space: Marketers have expressed difficulties in finding ad space that aligns with their commitment to supporting Black- and minority-owned media. Group Black's strategy involves accumulating ad inventory by forging deals with media companies like Arena Group, allowing them to provide suitable advertising opportunities to marketers.

This article was generated using ChatGPT and was reviewed and edited by a Benzinga editor

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