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The sports, finance and lifestyle publisher The Arena Group, which houses editorial titles including Sports Illustrated, The Street and Parade, has acquired Fexy Studios, a digital video and content production studio with a focus on food media, in a stock-and-cash transaction.
With the deal, the publisher will meet rising demand from marketers for premium video inventory, ultimately growing Arena Group’s video ad revenue. The financial details weren’t shared.
As part of the agreement, core Fexy Studios leadership, including chief executive Cliff Sharples and head of partnerships and sales Bruce Hunter, will join The Arena Group.
Relish, a recipe aggregator product owned by Fexy Studios, is not included in the deal and will continue as a standalone product along with its staff.