Roundtable has agreed to buy a 49.5% stake in Paradium.AI for approximately $89 million, in a deal contingent on the media technology firm raising the full sum by the fourth quarter of this year.

The equity purchase accompanies a 10-year platform agreement that Paradium.AI, the digital publisher formerly known as The Arena Group, recently signed with Roundtable. Both deals hinge on the same condition: Roundtable must secure the $89 million before the deadline.

Under the arrangement, Roundtable would take over much of Paradium's operations, including ad sales, engineering, and monetization. It would also move Paradium's brands—Parade, TheStreet, Men's Journal, and Athlon Sports—onto the Roundtable platform.

In exchange, Roundtable would receive a share of the revenue generated by those brands, according to Roundtable CEO James Heckman.

For Paradium.AI, the agreement represents a structural shift rather than a simple capital injection. The publisher, which rebranded from The Arena Group, is effectively outsourcing core commercial functions to its new part-owner for a decade.

Roundtable's bet is that its platform can lift monetization across a portfolio of recognized consumer media brands. The $89 million price for a minority stake values Paradium at roughly $180 million on a full basis, implied by the 49.5% share.

The deal remains conditional until Roundtable closes its fundraising. If the company misses the fourth-quarter deadline, both the equity sale and the platform agreement could collapse, leaving Paradium to continue operating its ad sales and engineering functions on its own.

The outcome will signal whether media technology platforms can still raise nine-figure sums to acquire operational control of legacy digital publishers—and whether Paradium's brands can find new monetization under outside management.