Arena Group authorizes share repurchase program

Arena Group (AREN) announced today that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to 3 million shares of its common stock over the next 12 months. “Our operational performance continues to improve, and the business is delivering the outcomes we targeted,” said Paul Edmondson, Chief Executive Officer of The Arena Group. “Yet we believe these improvements have not been fully reflected in our current share price, especially when compared with our peers in the Russell 2000(R) Index. We believe that this makes the share repurchase program our best investment. This program reflects our confidence in the future of the Company.”