Operator: [Operator Instructions] And our next question is going to come from Dan Day with B. Riley. Your line is open.
Daniel Day: Hey, guys, thanks for taking the questions and just congrats again on getting what looks like a really nice deal across the finish line. I’ve got a million questions, as you can imagine. But I just ask a couple here. So I think the two really interesting assets you just talked about that were contributed from Bridge Media. Are these two kind of live news and sports networks? So these are different in the kind of existing assets you own, primarily text-based sort of webpage dominated. So just Ross, you’ve been in this industry for couple of decades here. Just talk about what you think Arena Group brings to the table to — for those assets, why they’re the right owner? And just maybe how different is the playbook for those assets versus something like Parade or Men’s Journal or the smaller acquisitions you’ve done?
Ross Levinsohn: Yes, sure. I mean this is obviously something we’ve been thinking about. You saw our acquisition of Fexy earlier this year, which got us into the food space on a video basis. They produce two shows that are distributed on linear television, and we were excited about that. It opened up a new lane of advertising somewhat buried in my commentary here was that we have signed a deal to launch five fast channels, Free-Ad-Supported TV around our adventure network brands. So you can quietly see or see that we have been moving in this direction. It’s probably the hottest sector in all of our marketer discussions, advertiser discussions, video is a major component of it. And while we do a very good job in the space, we have a studio on the floor of the New York Stock Exchange.
We do lots and lots of video programming across our other properties, sports lifestyle properties. We wanted to invest more and more in it. This gets us far away down the road, much quicker than we could have gotten there by ourselves pretty much in every single discussion we have with advertisers, they want more video. It’s really where they see a lot of their money going. Obviously, if you’re following social platforms, YouTube is enormous, Facebook and Instagram with Reels has become the dominant form and of course TikTok has really taken over the social world in an aggressive way and that’s all video. So we felt like we needed to be in the space. On the last quarterly call, we talked a lot about the creator space, which is all video-based.
So we have been moving in this direction as quickly as we could. Having linear distribution of television networks is really an amazing jump for us. I talk about the amazing value of Sports Illustrated and what we’ve been able to do both digitally and keep print very, very solid and stable. In every conversation I have with a marketer or really an athlete that the power of that print product is still incredible. The power of television no matter how big or small the network may be is still palatable. So getting us to be more diversified, I think, was a real goal of ours, and we’ve been doing it as best we can. This is just an incredible jump start. I want to highlight a couple of things, though. When I first met with the team at Bridge and listened to what they were doing, what they were building in Manjo’s vision for where he’s going.
He brought it back to the simplest form when you think about news and sports, people in this day and age, they want the news and they want it fast and they want the highlights and they want it fast. And when I grew up in New York City, there was a and still is, a radio station called 1010 WINS and their catch phrase used to be, “You give us 22 minutes, we’ll give you the world.” And they were all about the news without any of the noise and commentary that we all get today on cable networks or even probably some of our local news. What they’re doing with these two networks, news and sports is delivering the news in its purest form and sports highlights in its purest form. Not a lot of noise around it. And we’re really excited about that, that it shows that they’re in tuned with how the market wants to accept and get this type of content and we love that.
So I think we bring, obviously, great digital distribution and great brands. They bring great linear and over-the-top distribution and good programming. And in addition, they bring some great brands in automotive and travel. So it really is one plus one equals a lot more than two because we’re not overlapping. We’re bringing relative strength from two different places to the same company. So we’ll look more and more like a diversified media company with very, very strong technology at our core.
Daniel Day: Thanks, Ross. That’s helpful. And just, obviously, the push in more video and sort of over-the-top kind of long-form video content. How much flexibility do you have with your licensing agreement with ABG to do a lot of things with Sports Illustrated and bring that over? Can you do long-form kind of documentary type stuff or just anything to think about there with just what you’re able to do with Sports Illustrated, just given the way that the company is?
