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 memo, titled "Today we go 'All In': Introducing Paradium.AI," was sent ahead of a planned announcement during its Q2 earnings after market close on Monday, the CEO wrote.
"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, adding that the company was building "a unified, AI-powered ecosystem that empowers us to perform at the speed and scale of artificial intelligence."
The switch comes as many digital publishers confront headwinds to their traditional business models. Referral traffic from search and social platforms has broadly declined.
The Arena Group said Monday that second-quarter revenue fell about 51% from a year earlier, to $22.2 million. Income from continuing operations swung from a $12.4 million profit a year earlier to a $200,000 loss.
The company's shares are down around 48% this year. (The stock popped about 7% following the rebrand news before paring gains toward the 4 p.m. closing bell.)
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 additional comment when reached by Business Insider.
Other media companies — including BuzzFeed — have turned to AI in search of new growth as their traditional formula of producing or aggregating stories for large audiences has faltered. Other information companies, such as Thomson Reuters and News Corp., have increasingly built AI and data analytics into businesses that extend well beyond publishing.
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 Edmondson
CEO
Read next
Steven Tweedie is a Deputy Executive Editor at Business Insider. He launched the Business News desk in early 2020 and helped grow it into the Trending and Tech News desk, a fast-paced reporting powerhouse that tackles the biggest business and tech stories of the day in an approachable way. He now oversees the Business News desk, Corporate team, and Weekend desk. He works out of the New York newsroom and helps train fellows and new hires at all experience levels in addition to his daily editing duties.He began his career covering app startups and gadgets on the Technology desk at BI. His past reporting and scoops have been cited or syndicated by publications including the WSJ, Associated Press, CNN, Bloomberg, The Guardian, and Forbes. He attended the University of Michigan, where he studied economics and writing, and now lives in Brooklyn.While passionate about editing and helping lead the newsroom's daily business coverage, he also puts on his reporting hat every now and then to chase down a scoop — so don't hesitate to reach out!Have a news tip? Email Steven from a non-work email at [email protected]Follow him on X and Threads for the latest.Featured work:▲Leaked memo: Wayfair CEO tells employees to expect long hours 'blending work and life' (scoop) ▲ Magic Leap's CFO is stepping down after it was 'mutually decided' it was time for someone new (scoop)▲ 48 hours after raising $500 million, Magic Leap called the cops to say an employee had stolen $1 million (scoop)▲ A conversation with the father of virtual reality about the changing culture of Silicon Valley▲ The future of virtual reality is here▲ The first details on the executive shakeup planned for Yahoo once its deal with Verizon closes (scoop)▲ What it's like to log in to computers in North Korea, which run look-alike Mac software called 'Red Star 3.0'
Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
Follow Following
Every time publishes a story, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time publishes a story!
Every time a new story is published, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time a new story is published!
By clicking “Sign up”, you agree to receive emails from Business Insider. In addition, you accept Insider’s Terms of Service and Privacy Policy.
