Innovative technology platform Arena Group Holdings with its board terminated the employment of Ross Levinsohn, chief executive of the company, effectively immediately, on Monday, resulting from the recent agreement to combine with Bridge Media Networks.
The company also named Manoj Bhargava as interim chief executive, effective immediately. On December 5, Arena’s board terminated Andrew Kraft, president of operations, along with Rob Barrett, media president, and Julie Fenster, corporate counsel from their respective roles, effective immediately.
Levinsohn has worked with Arena Group since August 2020 as chief executive officer, before which, he served as the CEO of Tribune Publishing Company for nearly two years.
Earlier last month, the company agreed to combine with Bridge Media Networks, a subsidiary of Simplify Inventions, forming a new firm under the label “New Arena”. The deal was made with an aim to reduce Arena Groups’ debt and extending the terms on its existing debt facilities, while also strengthening and fortifying Arena’s balance sheet.
Bhargava, interim executive chief was one of the five directors voted into the board of New Arena, the newly formed company, over a week ago.
Arena Group is a publicly-traded media firm, based in New York, provides media brands a platform for creators and publishers to use it as a tool to publish and monetize their content.
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