The Arena Group Holdings Inc. has announced a change in its independent registered public accounting firm. Effective July 11, 2025, the company's Audit Committee approved the dismissal of KPMG LLP, which had expressed substantial doubt regarding the company's ability to continue as a going concern in its audit report for the fiscal year ended December 31, 2024. The Board has appointed BDO USA, P.C. as the new independent auditor. During the fiscal year 2024, no disagreements on accounting principles or practices were reported with KPMG, although material weaknesses in internal controls over financial reporting were noted. These weaknesses included insufficient documentation of finance and accounting policies and inadequate internal controls for data validation from third-party service providers. KPMG has been authorized to fully cooperate with BDO on these matters.