The Arena Group on Tuesday announced it has signed an agreement to acquire Nashville-based AMG/Parade, the parent company of Sunday national publication insert Parade magazine.
Terms of the looming deal, subject to completion of due diligence and the finalization of transaction documents, were not disclosed in a release. A first quarter closing is expected.
AMG/Parade bills itself as a multimedia content company with lifestyle, celebrity, food, health and wellness, sports and outdoor publications. Its brands include Parade Media (which reaches more than 54 million domestic consumers each month in digital and print formats), AMG/Parade Sports, Relish and Spry Living. AMG/Parade offers 257 million consumers in print, 119 million digital users and 250 million video views.
The acquisition adds to New York-based The Arena Group’s Sports Illustrated Media Group publications, which in November entered the top five of sports media properties and reached more than 64.4 million unique visitors, according to Comscore. Led by CEO Ross Levinsohn, The Arena Group publishes, among others, the monthly Sports Illustrated magazine, which reaches more than 1.2 million print subscribers.
The Arena Group, which also publishes financial news website TheStreet, had been called Maven prior to a late-2021 rebrand.
"The digital technology, data management, content, products and services that Ross Levinsohn and his team bring to the marketplace will allow us to build on our tremendous digital growth and print footprint, and bring new products and value to our audience, advertisers and newspaper partners," Chuck Allen, CEO of AMG/Parade, said in the release.