Arena Group gets new majority owner


Sports Illustrated publisher The Arena Group has agreed to sell a majority stake to entrepreneur Manoj Bhargava's Simplify Inventions, the company said Monday.

Why it matters: One of the few publicly traded digital media holding groups, Arena Group is profitable and consistently growing, but its stock has been heavily impacted by the slowdown in digital advertising.

Be smart: Bhargava has experience in media and a track record for strong branding. He made his fortune selling the popular caffeine brand 5-Hour Energy.

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