Addition of Quality Content, Storytelling, and Real-Time Sports Coverage Expected To Increase Audience For Sports Arena

The Arena Group (NYSE American: AREN) (the “Company” or “The Arena Group”), the tech-powered media company operating more than 240 brands, including Sports Illustrated, TheStreet and Parade, today finalized its purchase of golf publisher Morning Read from Buffalo Groupe, LLC. The acquisition continues the expansion of The Arena Group’s sports vertical, focusing on in-depth coverage of the golf world – from breaking news and championship coverage to podcasts, video travel, and interview series at SI.com/golf. With the acquisition, the Company will rebrand its golf coverage to SI Golf.

The addition of Morning Read’s industry-leading and trusted editorial team, highly engaged newsletter subscriber base, and strong e-commerce business will accelerate revenue and audience growth across The Arena Group’s sports media vertical. According to Google Analytics, Sports Illustrated Media Group reported 174% year-over-year growth in average monthly page views in the second quarter. Across all verticals, the Company reached 1.5 billion visitors last quarter and has established an avid golf audience of 40 million monthly digital visitors (according to Liveramp and Google Analytics).

“This is another step in growing quality storytelling and experiences for consumers, further expanding our footprint in one of the most valuable categories in all of sports,” said Ross Levinsohn, CEO of The Arena Group and Sports Illustrated.

“The evolution of our year-long relationship with Morning Read created an exceptional opportunity for our sports arena to expand SI’s illustrious golf coverage with a talented in-house editorial team,” said Chris Pirrone, SVP & General Manager of Sports Illustrated Media Group. “We are excited to add depth and expertise on professional and amateur golfers, influencers, culture, equipment, travel and much more, for the high household income visitors who frequent our sports, finance, and lifestyle brands.”

Morning Read first became an editorial partner with The Arena Group in 2021, providing compelling coverage around the PGA Tour, the LPGA Tour, and the newly formed LIV Golf Tour, plus original videos and podcasts. Morning Read’s editorial team joins The Arena Group alongside Sports Illustrated journalists and award-winning editorial staff to deliver print and digital content across all platforms. The team will report to Managing Director of SI Golf, Jeff Ritter, with the recent addition of Billy Condon from Golfweek to lead the golf revenue strategy.

“Morning Read was created for golf enthusiasts to start their day with the most comprehensive original golf content and partnering with Sports Illustrated has not only expanded our audience, but created the ultimate golf destination,” said Kyle Ragsdale, CEO of Buffalo Groupe, LLC which operates Morning Read. “We are extremely proud of Morning Read’s evolution which is directly attributed to the editorial and leadership team of Buffalo Media Network and look forward to seeing continued growth.”

About The Arena Group

The Arena Group creates robust digital destinations that delight consumers with powerful journalism, news about the things they love – their favorite sports teams, advice on investing, the inside scoop on personal finance, and the latest on lifestyle essentials. With powerful technology, editorial expertise, data management and marketing savvy, the transformative company enables brands like Sports Illustrated, TheStreet and Parade to deliver highly relevant content and experiences that consumers love. To learn more, visit www.thearenagroup.net.

About Sports Illustrated

Sports Illustrated (SI) is an unparalleled and influential leader recognized for shaping modern culture and uniting athletes, teams and fans worldwide. SI’s award-winning media enterprise brings powerful storytelling to life across platforms ranging from Emmy-winning video to the monthly print magazine with a 67-year heritage. Get in-depth features, probing profiles, and iconic and beloved photography from the best writers and photojournalists in the game at SI.com.

About Buffalo Groupe, LLC

Buffalo Groupe, LLC is a collection of agencies, events and media properties that authentically serve the escape industries of golf, outdoor recreation, travel, lifestyle, real estate and active sport. The collection is comprised of industry leading companies including Buffalo Agency, BGRM, 54 Brands, Longitudes Group, The First Call and Moments Live. Guided by our core principles of kindness, clarity and courage, our people adhere to a Groupe-wide foundational philosophy to connect brands and lifestyle audiences through content. Buffalo Groupe is headquartered in Charleston, SC with company offices in Washington, DC, Charlotte, Charleston, Portland and LA. For more information visit www.buffalogroupe.com.

Forward-Looking Statements

This press release includes statements that constitute forward-looking statements. Forward-looking statements may be identified by the use of words such as “forecast,” “guidance,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “prospect,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” “opportunity,” “potential,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, and include, for example, statements related to the expected effects on the Company’s business from the COVID-19 pandemic. These forward-looking statements are based on information available at the time the statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the duration and scope of the COVID-19 pandemic and impact on the demand for the Company products; the ability of the Company to expand its verticals; the Company’s ability to grow its subscribers; the Company’s ability to grow its advertising revenue; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by The Arena Group Holdings, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

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