{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-003019","form_type":"8-K","ticker":"AREN","cik":"0000894871","company_name":"Arena Group Holdings, Inc.","filed_at":"2024-01-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.207737+00:00","generated_at":"2026-06-06T21:39:20.982381+00:00","sec_items":["1.02","2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Arena Group loses Sports Illustrated license; ABG terminates pact; $45M fee; cuts 33% staff","bullets":["ABG-SI LLC terminated Licensing Agreement on Jan 18, 2024 after Arena missed ~$3.75M quarterly payment.","Termination triggers immediate $45M fee payable to ABG and full vesting of unvested warrants.","Arena will cut ~one-third of workforce; expects $5M-$7M in restructuring charges in first two quarters of 2024.","Agreement had granted exclusive rights to operate Sports Illustrated media in US, Canada, UK, and other markets."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-003019","json":"https://secwatch.observer/filing/0001493152-24-003019.json","markdown":"https://secwatch.observer/filing/0001493152-24-003019.md","text":"https://secwatch.observer/filing/0001493152-24-003019.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/894871/000149315224003019/0001493152-24-003019-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/894871/000149315224003019/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T21:39:20.982381+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"36912809267b94670b496f845481a5500378a070","claim":"Arena Group Holdings, Inc. terminated Licensing Agreement with ABG-SI LLC valued at Termination of Licensing Agreement; $45 million fee became due; outstanding warrants vested (effective 2024-01-18).","evidence_excerpt":"On January 18, 2024, ABG notified the Company of its intention to terminate the Licensing Agreement, effective immediately, in accordance with its rights under the Licensing Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/894871/000149315224003019/0001493152-24-003019-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"license"},{"label":"Counterparty","value":"ABG-SI LLC"},{"label":"Value","value":"Termination of Licensing Agreement; $45 million fee became due; outstanding warrants vested"},{"label":"Effective","value":"2024-01-18"}],"fact_type":"material_agreement"},{"claim_id":"847d393eba93becc8f73e75a092bdf36f0c8c197","claim":"Arena Group Holdings, Inc. announced a restructuring with charges of approximately $5 million to $7 million (approximately one-third of its current workforce).","evidence_excerpt":"Where required, worker adjustment and retraining notification (“WARN”) shall be given. In connection with these actions, the Company estimates that it will incur approximately $5 million to $7 million in total restructuring charges, the substantial majority of which are future cash-based expenditures and substantially all of which are related to, employee","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/894871/000149315224003019/0001493152-24-003019-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $5 million to $7 million"},{"label":"Headcount","value":"approximately one-third of its current workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}