Goodbye, Arena Group. Hello, Paradium.AI.
The media company that owns publications including TheStreet, Parade, and Men's Journal informed employees in a Monday memo obtained by Business Insider that it was changing its name as part of its evolution into a "publicly traded AI company."
The company plans to announce the name change during its Q2 earnings after market close on Monday, the CEO wrote.
Shares of Arena Group Holdings are down around 48% this year.
"This is more than a name change; it is a commitment to our future as a tech-centric leader in media, data, and commerce," CEO Paul Edmondson wrote in the memo to employees. "By integrating the acquisition of Info Sentience and the launch of Cutter Studio, we are building a unified, AI-powered ecosystem that empowers us to perform at the speed and scale of artificial intelligence."
The new name, which is also a URL, re-routed to The Arena Group's website on Monday afternoon.
The company did not immediately provide comment when reached by Business Insider.
Read the CEO's full memo to employees #
Team,
*Today marks a pivotal moment in our company's history. Following the news shared by leaders with their teams this morning and as we prepare for our Q2 earnings call this afternoon, we are incredibly excited to share that The Arena Group is evolving into *Paradium.AI.
This is more than a name change; it is a commitment to our future as a tech-centric leader in media, data, and commerce. By integrating the acquisition of Info Sentience and the launch of Cutter Studio, we are building a unified, AI-powered ecosystem that empowers us to perform at the speed and scale of artificial intelligence.
We are entering a rare and exciting moment — the opportunity to be part of a publicly traded AI company during one of the most transformative periods in technology. Together, we have the chance to shape what comes next and help build the future of AI-powered innovation.
The public announcement will be distributed shortly. Please remember that this information remains confidential until 4:05 PM ET today when we release our Q2 results.
Best,
Paul EdmondsonCEO