5-Hour Energy founder buys majority stake in SI

Businessman Manoj Bhargava, who founded 5-Hour Energy, has “agreed to acquire a majority stake” in the publisher of SI, according to Alexandra Bruell of the WALL STREET JOURNAL. One of Bhargava’s companies, Simplify Inventions, “will take an approximately 65% stake in the Arena Group.” As part of the deal, Arena will get a $50M investment. The deal also “includes a five-year guaranteed advertising commitment of approximately” $60M from a group of consumer brands also owned by Simplify. Arena “will assume oversight of various media properties owned by Bhargava,” including 24-hour news TV channels NEWSnet and Sports News Highlights, as well as media brands Driven and TravelHost. Arena “will oversee programming and advertising for the channels” (WALL STREET JOURNAL, 8/14).