diff --git a/.beads/issues.jsonl b/.beads/issues.jsonl
index 931ba18..9491e2a 100644
--- a/.beads/issues.jsonl
+++ b/.beads/issues.jsonl
@@ -1,5 +1,5 @@
 {"id":"--stealth-d39","title":"Superadmin control surface spec and access matrix","description":"Define the minimal superadmin control surface, permissions, and mapping to tenant/guest responsibilities. Document scope and non-goals.","status":"tombstone","priority":2,"issue_type":"task","created_at":"2026-01-01T14:16:06.994379577+01:00","updated_at":"2026-01-01T17:23:28.230936323+01:00","close_reason":"Duplicate of fotospiel-app-ihd after beads re-init","deleted_at":"2026-01-01T17:23:28.230936323+01:00","deleted_by":"soeren","delete_reason":"Remove stray stealth issue id","original_type":"task"}
-{"id":"fotospiel-app-097","title":"Tenant announcements / release notes","description":"Broadcast announcements to tenants/admins with targeting and scheduling.","status":"open","priority":3,"issue_type":"feature","created_at":"2026-01-01T14:20:21.68206312+01:00","updated_at":"2026-01-01T14:20:21.68206312+01:00"}
+{"id":"fotospiel-app-097","title":"Tenant announcements / release notes","description":"Broadcast announcements to tenants/admins with targeting and scheduling.","status":"closed","priority":3,"issue_type":"feature","created_at":"2026-01-01T14:20:21.68206312+01:00","updated_at":"2026-01-02T14:18:31.676816348+01:00","closed_at":"2026-01-02T14:18:31.676816348+01:00","close_reason":"Closed"}
 {"id":"fotospiel-app-0h0","title":"SEC-BILL-02 Signature freshness + retry policies for Paddle webhooks","status":"open","priority":2,"issue_type":"task","created_at":"2026-01-01T15:53:37.618780852+01:00","created_by":"soeren","updated_at":"2026-01-01T15:53:37.618780852+01:00"}
 {"id":"fotospiel-app-0rb","title":"Tenant admin onboarding: inline checkout integration in welcome flow","status":"closed","priority":2,"issue_type":"task","created_at":"2026-01-01T16:08:22.434997456+01:00","created_by":"soeren","updated_at":"2026-01-01T16:08:28.026795975+01:00","closed_at":"2026-01-01T16:08:28.026795975+01:00","close_reason":"Completed in codebase (verified)"}
 {"id":"fotospiel-app-0u0","title":"Paddle migration: design Paddle data mappings for packages/products/prices","status":"closed","priority":2,"issue_type":"task","created_at":"2026-01-01T15:57:15.991704177+01:00","created_by":"soeren","updated_at":"2026-01-01T15:57:21.629616074+01:00","closed_at":"2026-01-01T15:57:21.629616074+01:00","close_reason":"Completed in codebase (verified)"}
diff --git a/.beads/last-touched b/.beads/last-touched
index b4222b2..2e7b9de 100644
--- a/.beads/last-touched
+++ b/.beads/last-touched
@@ -1 +1 @@
-fotospiel-app-iyc
+fotospiel-app-097
diff --git a/app/Console/Commands/DispatchTenantAnnouncements.php b/app/Console/Commands/DispatchTenantAnnouncements.php
new file mode 100644
index 0000000..7ec00f2
--- /dev/null
+++ b/app/Console/Commands/DispatchTenantAnnouncements.php
@@ -0,0 +1,40 @@
+<?php
+
+namespace App\Console\Commands;
+
+use App\Services\TenantAnnouncements\TenantAnnouncementService;
+use Illuminate\Console\Command;
+
+class DispatchTenantAnnouncements extends Command
+{
+    /**
+     * The name and signature of the console command.
+     *
+     * @var string
+     */
+    protected $signature = 'tenant-announcements:dispatch';
+
+    /**
+     * The console command description.
+     *
+     * @var string
+     */
+    protected $description = 'Dispatch scheduled tenant announcements and queue email notifications';
+
+    /**
+     * Execute the console command.
+     */
+    public function handle(TenantAnnouncementService $service): int
+    {
+        $result = $service->process();
+
+        $this->info(sprintf(
+            'Announcements: %d activated, %d archived, %d emails queued.',
+            $result['activated'],
+            $result['archived'],
+            $result['queued'],
+        ));
+
+        return Command::SUCCESS;
+    }
+}
diff --git a/app/Enums/TenantAnnouncementAudience.php b/app/Enums/TenantAnnouncementAudience.php
new file mode 100644
index 0000000..665c998
--- /dev/null
+++ b/app/Enums/TenantAnnouncementAudience.php
@@ -0,0 +1,19 @@
+<?php
+
+namespace App\Enums;
+
+enum TenantAnnouncementAudience: string
+{
+    case ALL = 'all';
+    case TENANTS = 'tenants';
+    case SEGMENTS = 'segments';
+
+    public function label(): string
+    {
+        return match ($this) {
+            self::ALL => __('Alle Tenants'),
+            self::TENANTS => __('Ausgewählte Tenants'),
+            self::SEGMENTS => __('Segmente'),
+        };
+    }
+}
diff --git a/app/Enums/TenantAnnouncementDeliveryStatus.php b/app/Enums/TenantAnnouncementDeliveryStatus.php
new file mode 100644
index 0000000..93b232c
--- /dev/null
+++ b/app/Enums/TenantAnnouncementDeliveryStatus.php
@@ -0,0 +1,19 @@
+<?php
+
+namespace App\Enums;
+
+enum TenantAnnouncementDeliveryStatus: string
+{
+    case QUEUED = 'queued';
+    case FAILED = 'failed';
+    case SKIPPED = 'skipped';
+
+    public function label(): string
+    {
+        return match ($this) {
+            self::QUEUED => __('Warteschlange'),
+            self::FAILED => __('Fehlgeschlagen'),
+            self::SKIPPED => __('Übersprungen'),
+        };
+    }
+}
diff --git a/app/Enums/TenantAnnouncementSegment.php b/app/Enums/TenantAnnouncementSegment.php
new file mode 100644
index 0000000..ebd4013
--- /dev/null
+++ b/app/Enums/TenantAnnouncementSegment.php
@@ -0,0 +1,17 @@
+<?php
+
+namespace App\Enums;
+
+enum TenantAnnouncementSegment: string
+{
+    case ACTIVE_PACKAGE = 'active_package';
+    case ACTIVE_STATUS = 'active_status';
+
+    public function label(): string
+    {
+        return match ($this) {
+            self::ACTIVE_PACKAGE => __('Aktives Paket'),
+            self::ACTIVE_STATUS => __('Aktiv (nicht gesperrt/gelöscht)'),
+        };
+    }
+}
diff --git a/app/Enums/TenantAnnouncementStatus.php b/app/Enums/TenantAnnouncementStatus.php
new file mode 100644
index 0000000..e40db2f
--- /dev/null
+++ b/app/Enums/TenantAnnouncementStatus.php
@@ -0,0 +1,21 @@
+<?php
+
+namespace App\Enums;
+
+enum TenantAnnouncementStatus: string
+{
+    case DRAFT = 'draft';
+    case SCHEDULED = 'scheduled';
+    case ACTIVE = 'active';
+    case ARCHIVED = 'archived';
+
+    public function label(): string
+    {
+        return match ($this) {
+            self::DRAFT => __('Entwurf'),
+            self::SCHEDULED => __('Geplant'),
+            self::ACTIVE => __('Aktiv'),
+            self::ARCHIVED => __('Archiviert'),
+        };
+    }
+}
diff --git a/app/Filament/Resources/EventResource/Pages/ManageWatermark.php b/app/Filament/Resources/EventResource/Pages/ManageWatermark.php
index b6a9280..0e1cb7d 100644
--- a/app/Filament/Resources/EventResource/Pages/ManageWatermark.php
+++ b/app/Filament/Resources/EventResource/Pages/ManageWatermark.php
@@ -3,27 +3,41 @@
 namespace App\Filament\Resources\EventResource\Pages;
 
 use App\Filament\Resources\EventResource;
+use App\Services\Audit\SuperAdminAuditLogger;
 use Filament\Forms;
 use Filament\Notifications\Notification;
+use Filament\Resources\Pages\Concerns\InteractsWithRecord;
 use Filament\Resources\Pages\Page;
+use Filament\Schemas\Components\Section;
+use Filament\Schemas\Schema;
 use Illuminate\Support\Arr;
 
 class ManageWatermark extends Page
 {
+    use InteractsWithRecord;
+
     protected static string $resource = EventResource::class;
 
     protected string $view = 'filament.resources.event-resource.pages.manage-watermark';
 
     public ?string $watermark_mode = 'base';
+
     public ?string $watermark_asset = null;
+
     public string $watermark_position = 'bottom-right';
+
     public float $watermark_opacity = 0.25;
+
     public float $watermark_scale = 0.2;
+
     public int $watermark_padding = 16;
+
     public bool $serve_originals = false;
 
-    public function mount(): void
+    public function mount(int|string $record): void
     {
+        $this->record = $this->resolveRecord($record);
+
         $event = $this->record;
         $settings = $event->settings ?? [];
         $watermark = Arr::get($settings, 'watermark', []);
@@ -37,67 +51,62 @@ class ManageWatermark extends Page
         $this->serve_originals = (bool) Arr::get($settings, 'watermark_serve_originals', false);
     }
 
-    protected function getForms(): array
+    public function form(Schema $schema): Schema
     {
-        return [
-            'form' => $this->form(
-                $this->makeForm()
-                    ->schema([
-                        Forms\Components\Fieldset::make(__('filament-watermark.heading'))
-                            ->schema([
-                                Forms\Components\Select::make('watermark_mode')
-                                    ->label(__('filament-watermark.mode.label'))
-                                    ->options([
-                                        'base' => __('filament-watermark.mode.base'),
-                                        'custom' => __('filament-watermark.mode.custom'),
-                                        'off' => __('filament-watermark.mode.off'),
-                                    ])
-                                    ->required(),
-                                Forms\Components\FileUpload::make('watermark_asset')
-                                    ->label(__('filament-watermark.asset'))
-                                    ->disk('public')
-                                    ->directory('branding')
-                                    ->preserveFilenames()
-                                    ->image()
-                                    ->visible(fn (callable $get) => $get('watermark_mode') === 'custom'),
-                                Forms\Components\Select::make('watermark_position')
-                                    ->label(__('filament-watermark.position'))
-                                    ->options([
-                                        'top-left' => 'Top Left',
-                                        'top-right' => 'Top Right',
-                                        'bottom-left' => 'Bottom Left',
-                                        'bottom-right' => 'Bottom Right',
-                                        'center' => 'Center',
-                                    ])
-                                    ->required(),
-                                Forms\Components\TextInput::make('watermark_opacity')
-                                    ->label(__('filament-watermark.opacity'))
-                                    ->numeric()
-                                    ->minValue(0)
-                                    ->maxValue(1)
-                                    ->step(0.05)
-                                    ->required(),
-                                Forms\Components\TextInput::make('watermark_scale')
-                                    ->label(__('filament-watermark.scale'))
-                                    ->numeric()
-                                    ->minValue(0.05)
-                                    ->maxValue(1)
-                                    ->step(0.05)
-                                    ->required(),
-                                Forms\Components\TextInput::make('watermark_padding')
-                                    ->label(__('filament-watermark.padding'))
-                                    ->numeric()
-                                    ->minValue(0)
-                                    ->required(),
-                                Forms\Components\Toggle::make('serve_originals')
-                                    ->label(__('filament-watermark.serve_originals'))
-                                    ->helperText('Nur Admin/Owner: falls aktiviert, werden Originale statt watermarked ausgeliefert.')
-                                    ->default(false),
-                            ])
-                            ->columns(2),
-                    ])
-            ),
-        ];
+        return $schema->schema([
+            Section::make(__('filament-watermark.heading'))
+                ->schema([
+                    Forms\Components\Select::make('watermark_mode')
+                        ->label(__('filament-watermark.mode.label'))
+                        ->options([
+                            'base' => __('filament-watermark.mode.base'),
+                            'custom' => __('filament-watermark.mode.custom'),
+                            'off' => __('filament-watermark.mode.off'),
+                        ])
+                        ->required(),
+                    Forms\Components\FileUpload::make('watermark_asset')
+                        ->label(__('filament-watermark.asset'))
+                        ->disk('public')
+                        ->directory('branding')
+                        ->preserveFilenames()
+                        ->image()
+                        ->visible(fn (callable $get) => $get('watermark_mode') === 'custom'),
+                    Forms\Components\Select::make('watermark_position')
+                        ->label(__('filament-watermark.position'))
+                        ->options([
+                            'top-left' => 'Top Left',
+                            'top-right' => 'Top Right',
+                            'bottom-left' => 'Bottom Left',
+                            'bottom-right' => 'Bottom Right',
+                            'center' => 'Center',
+                        ])
+                        ->required(),
+                    Forms\Components\TextInput::make('watermark_opacity')
+                        ->label(__('filament-watermark.opacity'))
+                        ->numeric()
+                        ->minValue(0)
+                        ->maxValue(1)
+                        ->step(0.05)
+                        ->required(),
+                    Forms\Components\TextInput::make('watermark_scale')
+                        ->label(__('filament-watermark.scale'))
+                        ->numeric()
+                        ->minValue(0.05)
+                        ->maxValue(1)
+                        ->step(0.05)
+                        ->required(),
+                    Forms\Components\TextInput::make('watermark_padding')
+                        ->label(__('filament-watermark.padding'))
+                        ->numeric()
+                        ->minValue(0)
+                        ->required(),
+                    Forms\Components\Toggle::make('serve_originals')
+                        ->label(__('filament-watermark.serve_originals'))
+                        ->helperText('Nur Admin/Owner: falls aktiviert, werden Originale statt watermarked ausgeliefert.')
+                        ->default(false),
+                ])
+                ->columns(2),
+        ]);
     }
 
     public function save(): void
@@ -133,6 +142,17 @@ class ManageWatermark extends Page
 
         $event->forceFill(['settings' => $settings])->save();
 
+        $changed = array_diff(array_keys($event->getChanges()), ['updated_at']);
+
+        if ($changed !== []) {
+            app(SuperAdminAuditLogger::class)->record(
+                'event.watermark_updated',
+                $event,
+                SuperAdminAuditLogger::fieldsMetadata($changed),
+                source: static::class
+            );
+        }
+
         Notification::make()
             ->title(__('filament-watermark.saved'))
             ->success()
diff --git a/app/Filament/Resources/TenantAnnouncementResource.php b/app/Filament/Resources/TenantAnnouncementResource.php
new file mode 100644
index 0000000..c05bd86
--- /dev/null
+++ b/app/Filament/Resources/TenantAnnouncementResource.php
@@ -0,0 +1,255 @@
+<?php
+
+namespace App\Filament\Resources;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementSegment;
+use App\Enums\TenantAnnouncementStatus;
+use App\Filament\Clusters\RareAdmin\RareAdminCluster;
+use App\Filament\Resources\TenantAnnouncementResource\Pages;
+use App\Models\TenantAnnouncement;
+use App\Services\Audit\SuperAdminAuditLogger;
+use BackedEnum;
+use Filament\Forms\Components\CheckboxList;
+use Filament\Forms\Components\DateTimePicker;
+use Filament\Forms\Components\Select;
+use Filament\Forms\Components\Textarea;
+use Filament\Forms\Components\TextInput;
+use Filament\Forms\Components\Toggle;
+use Filament\Resources\Resource;
+use Filament\Schemas\Components\Section;
+use Filament\Schemas\Components\Utilities\Get;
+use Filament\Schemas\Schema;
+use Filament\Tables;
+use Filament\Tables\Table;
+use Illuminate\Database\Eloquent\Collection;
+use Illuminate\Support\Facades\Auth;
+use UnitEnum;
+
+class TenantAnnouncementResource extends Resource
+{
+    protected static ?string $model = TenantAnnouncement::class;
+
+    protected static ?string $cluster = RareAdminCluster::class;
+
+    protected static string|BackedEnum|null $navigationIcon = 'heroicon-o-megaphone';
+
+    protected static ?string $recordTitleAttribute = 'title';
+
+    protected static ?int $navigationSort = 70;
+
+    public static function getNavigationGroup(): UnitEnum|string|null
+    {
+        return __('admin.nav.platform');
+    }
+
+    public static function form(Schema $schema): Schema
+    {
+        $statusOptions = collect(TenantAnnouncementStatus::cases())
+            ->mapWithKeys(fn (TenantAnnouncementStatus $status) => [$status->value => $status->label()])
+            ->all();
+
+        $audienceOptions = collect(TenantAnnouncementAudience::cases())
+            ->mapWithKeys(fn (TenantAnnouncementAudience $audience) => [$audience->value => $audience->label()])
+            ->all();
+
+        $segmentOptions = collect(TenantAnnouncementSegment::cases())
+            ->mapWithKeys(fn (TenantAnnouncementSegment $segment) => [$segment->value => $segment->label()])
+            ->all();
+
+        return $schema
+            ->schema([
+                Section::make('Inhalt')
+                    ->schema([
+                        TextInput::make('title')
+                            ->label('Titel')
+                            ->required()
+                            ->maxLength(160),
+                        Textarea::make('body')
+                            ->label('Text')
+                            ->rows(6)
+                            ->required()
+                            ->columnSpanFull(),
+                        TextInput::make('cta_label')
+                            ->label('CTA-Label')
+                            ->maxLength(160),
+                        TextInput::make('cta_url')
+                            ->label('CTA-Link')
+                            ->maxLength(255)
+                            ->url()
+                            ->nullable(),
+                    ])
+                    ->columns(2),
+                Section::make('Zielgruppe')
+                    ->schema([
+                        Select::make('audience')
+                            ->label('Zielgruppe')
+                            ->options($audienceOptions)
+                            ->default(TenantAnnouncementAudience::ALL->value)
+                            ->live()
+                            ->required(),
+                        Select::make('tenants')
+                            ->label('Mandanten')
+                            ->relationship('tenants', 'name')
+                            ->multiple()
+                            ->preload()
+                            ->searchable()
+                            ->visible(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::TENANTS->value)
+                            ->dehydrated(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::TENANTS->value)
+                            ->required(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::TENANTS->value)
+                            ->columnSpanFull(),
+                        CheckboxList::make('segments')
+                            ->label('Segmente')
+                            ->options($segmentOptions)
+                            ->columns(2)
+                            ->default([])
+                            ->visible(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::SEGMENTS->value)
+                            ->dehydrated(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::SEGMENTS->value)
+                            ->required(fn (Get $get): bool => $get('audience') === TenantAnnouncementAudience::SEGMENTS->value)
+                            ->columnSpanFull(),
+                        Toggle::make('email_enabled')
+                            ->label('E-Mail versenden')
+                            ->default(true),
+                    ])
+                    ->columns(2),
+                Section::make('Zeitplan')
+                    ->schema([
+                        Select::make('status')
+                            ->label('Status')
+                            ->options($statusOptions)
+                            ->default(TenantAnnouncementStatus::DRAFT->value)
+                            ->live()
+                            ->required(),
+                        DateTimePicker::make('starts_at')
+                            ->label('Startet am')
+                            ->seconds(false)
+                            ->nullable()
+                            ->required(fn (Get $get): bool => $get('status') === TenantAnnouncementStatus::SCHEDULED->value),
+                        DateTimePicker::make('ends_at')
+                            ->label('Endet am')
+                            ->seconds(false)
+                            ->nullable(),
+                    ])
+                    ->columns(2),
+            ])
+            ->columns(1);
+    }
+
+    public static function table(Table $table): Table
+    {
+        $statusOptions = collect(TenantAnnouncementStatus::cases())
+            ->mapWithKeys(fn (TenantAnnouncementStatus $status) => [$status->value => $status->label()])
+            ->all();
+
+        $audienceOptions = collect(TenantAnnouncementAudience::cases())
+            ->mapWithKeys(fn (TenantAnnouncementAudience $audience) => [$audience->value => $audience->label()])
+            ->all();
+
+        return $table
+            ->columns([
+                Tables\Columns\TextColumn::make('title')
+                    ->label('Titel')
+                    ->searchable()
+                    ->sortable()
+                    ->limit(50),
+                Tables\Columns\TextColumn::make('status')
+                    ->label('Status')
+                    ->badge()
+                    ->formatStateUsing(function ($state): string {
+                        if ($state instanceof TenantAnnouncementStatus) {
+                            return $state->label();
+                        }
+
+                        return TenantAnnouncementStatus::tryFrom((string) $state)?->label() ?? (string) $state;
+                    })
+                    ->sortable(),
+                Tables\Columns\TextColumn::make('audience')
+                    ->label('Zielgruppe')
+                    ->badge()
+                    ->formatStateUsing(function ($state): string {
+                        if ($state instanceof TenantAnnouncementAudience) {
+                            return $state->label();
+                        }
+
+                        return TenantAnnouncementAudience::tryFrom((string) $state)?->label() ?? (string) $state;
+                    })
+                    ->sortable(),
+                Tables\Columns\IconColumn::make('email_enabled')
+                    ->label('E-Mail')
+                    ->boolean(),
+                Tables\Columns\TextColumn::make('starts_at')
+                    ->label('Start')
+                    ->dateTime()
+                    ->sortable(),
+                Tables\Columns\TextColumn::make('ends_at')
+                    ->label('Ende')
+                    ->dateTime()
+                    ->sortable()
+                    ->toggleable(isToggledHiddenByDefault: true),
+                Tables\Columns\TextColumn::make('updated_at')
+                    ->label('Aktualisiert')
+                    ->since()
+                    ->sortable()
+                    ->toggleable(isToggledHiddenByDefault: true),
+            ])
+            ->filters([
+                Tables\Filters\SelectFilter::make('status')
+                    ->label('Status')
+                    ->options($statusOptions),
+                Tables\Filters\SelectFilter::make('audience')
+                    ->label('Zielgruppe')
+                    ->options($audienceOptions),
+            ])
+            ->actions([
+                Tables\Actions\EditAction::make()
+                    ->after(fn (array $data, TenantAnnouncement $record) => app(SuperAdminAuditLogger::class)->recordModelMutation(
+                        'updated',
+                        $record,
+                        SuperAdminAuditLogger::fieldsMetadata($data),
+                        static::class
+                    )),
+            ])
+            ->bulkActions([
+                Tables\Actions\DeleteBulkAction::make()
+                    ->after(function (Collection $records): void {
+                        $logger = app(SuperAdminAuditLogger::class);
+
+                        foreach ($records as $record) {
+                            $logger->recordModelMutation(
+                                'deleted',
+                                $record,
+                                source: static::class
+                            );
+                        }
+                    }),
+            ]);
+    }
+
+    public static function getPages(): array
+    {
+        return [
+            'index' => Pages\ListTenantAnnouncements::route('/'),
+            'create' => Pages\CreateTenantAnnouncement::route('/create'),
+            'edit' => Pages\EditTenantAnnouncement::route('/{record}/edit'),
+        ];
+    }
+
+    public static function mutateFormDataBeforeCreate(array $data): array
+    {
+        if ($userId = Auth::id()) {
+            $data['created_by'] = $userId;
+            $data['updated_by'] = $userId;
+        }
+
+        return $data;
+    }
+
+    public static function mutateFormDataBeforeSave(array $data): array
+    {
+        if ($userId = Auth::id()) {
+            $data['updated_by'] = $userId;
+        }
+
+        return $data;
+    }
+}
diff --git a/app/Filament/Resources/TenantAnnouncementResource/Pages/CreateTenantAnnouncement.php b/app/Filament/Resources/TenantAnnouncementResource/Pages/CreateTenantAnnouncement.php
new file mode 100644
index 0000000..8fad7b9
--- /dev/null
+++ b/app/Filament/Resources/TenantAnnouncementResource/Pages/CreateTenantAnnouncement.php
@@ -0,0 +1,11 @@
+<?php
+
+namespace App\Filament\Resources\TenantAnnouncementResource\Pages;
+
+use App\Filament\Resources\Pages\AuditedCreateRecord;
+use App\Filament\Resources\TenantAnnouncementResource;
+
+class CreateTenantAnnouncement extends AuditedCreateRecord
+{
+    protected static string $resource = TenantAnnouncementResource::class;
+}
diff --git a/app/Filament/Resources/TenantAnnouncementResource/Pages/EditTenantAnnouncement.php b/app/Filament/Resources/TenantAnnouncementResource/Pages/EditTenantAnnouncement.php
new file mode 100644
index 0000000..d2668e7
--- /dev/null
+++ b/app/Filament/Resources/TenantAnnouncementResource/Pages/EditTenantAnnouncement.php
@@ -0,0 +1,25 @@
+<?php
+
+namespace App\Filament\Resources\TenantAnnouncementResource\Pages;
+
+use App\Filament\Resources\Pages\AuditedEditRecord;
+use App\Filament\Resources\TenantAnnouncementResource;
+use App\Services\Audit\SuperAdminAuditLogger;
+use Filament\Actions;
+
+class EditTenantAnnouncement extends AuditedEditRecord
+{
+    protected static string $resource = TenantAnnouncementResource::class;
+
+    protected function getHeaderActions(): array
+    {
+        return [
+            Actions\DeleteAction::make()
+                ->after(fn ($record) => app(SuperAdminAuditLogger::class)->recordModelMutation(
+                    'deleted',
+                    $record,
+                    source: static::class
+                )),
+        ];
+    }
+}
diff --git a/app/Filament/Resources/TenantAnnouncementResource/Pages/ListTenantAnnouncements.php b/app/Filament/Resources/TenantAnnouncementResource/Pages/ListTenantAnnouncements.php
new file mode 100644
index 0000000..94dee88
--- /dev/null
+++ b/app/Filament/Resources/TenantAnnouncementResource/Pages/ListTenantAnnouncements.php
@@ -0,0 +1,19 @@
+<?php
+
+namespace App\Filament\Resources\TenantAnnouncementResource\Pages;
+
+use App\Filament\Resources\TenantAnnouncementResource;
+use Filament\Actions;
+use Filament\Resources\Pages\ListRecords;
+
+class ListTenantAnnouncements extends ListRecords
+{
+    protected static string $resource = TenantAnnouncementResource::class;
+
+    protected function getHeaderActions(): array
+    {
+        return [
+            Actions\CreateAction::make(),
+        ];
+    }
+}
diff --git a/app/Filament/SuperAdmin/Pages/GuestPolicySettingsPage.php b/app/Filament/SuperAdmin/Pages/GuestPolicySettingsPage.php
index 0b20ace..aae8252 100644
--- a/app/Filament/SuperAdmin/Pages/GuestPolicySettingsPage.php
+++ b/app/Filament/SuperAdmin/Pages/GuestPolicySettingsPage.php
@@ -164,25 +164,16 @@ class GuestPolicySettingsPage extends Page
         $settings->guest_notification_ttl_hours = $this->guest_notification_ttl_hours;
         $settings->save();
 
-        app(SuperAdminAuditLogger::class)->record(
-            'guest_policy.updated',
-            $settings,
-            SuperAdminAuditLogger::fieldsMetadata([
-                'guest_downloads_enabled',
-                'guest_sharing_enabled',
-                'guest_upload_visibility',
-                'per_device_upload_limit',
-                'join_token_failure_limit',
-                'join_token_failure_decay_minutes',
-                'join_token_access_limit',
-                'join_token_access_decay_minutes',
-                'join_token_download_limit',
-                'join_token_download_decay_minutes',
-                'share_link_ttl_hours',
-                'guest_notification_ttl_hours',
-            ]),
-            source: static::class
-        );
+        $changed = $settings->getChanges();
+
+        if ($changed !== []) {
+            app(SuperAdminAuditLogger::class)->record(
+                'guest_policy.updated',
+                $settings,
+                SuperAdminAuditLogger::fieldsMetadata(array_keys($changed)),
+                source: static::class
+            );
+        }
 
         Notification::make()
             ->title(__('admin.guest_policy.notifications.saved'))
diff --git a/app/Filament/SuperAdmin/Pages/WatermarkSettingsPage.php b/app/Filament/SuperAdmin/Pages/WatermarkSettingsPage.php
index 4fee93f..313b4f0 100644
--- a/app/Filament/SuperAdmin/Pages/WatermarkSettingsPage.php
+++ b/app/Filament/SuperAdmin/Pages/WatermarkSettingsPage.php
@@ -129,20 +129,16 @@ class WatermarkSettingsPage extends Page
         $settings->offset_y = $this->offset_y;
         $settings->save();
 
-        app(SuperAdminAuditLogger::class)->record(
-            'watermark_settings.updated',
-            $settings,
-            SuperAdminAuditLogger::fieldsMetadata([
-                'asset',
-                'position',
-                'opacity',
-                'scale',
-                'padding',
-                'offset_x',
-                'offset_y',
-            ]),
-            source: static::class
-        );
+        $changed = $settings->getChanges();
+
+        if ($changed !== []) {
+            app(SuperAdminAuditLogger::class)->record(
+                'watermark_settings.updated',
+                $settings,
+                SuperAdminAuditLogger::fieldsMetadata(array_keys($changed)),
+                source: static::class
+            );
+        }
 
         Notification::make()
             ->title('Wasserzeichen aktualisiert')
diff --git a/app/Http/Controllers/Api/Tenant/TenantAnnouncementController.php b/app/Http/Controllers/Api/Tenant/TenantAnnouncementController.php
new file mode 100644
index 0000000..d915dd4
--- /dev/null
+++ b/app/Http/Controllers/Api/Tenant/TenantAnnouncementController.php
@@ -0,0 +1,41 @@
+<?php
+
+namespace App\Http\Controllers\Api\Tenant;
+
+use App\Http\Controllers\Controller;
+use App\Http\Resources\Tenant\TenantAnnouncementResource;
+use App\Models\Tenant;
+use App\Services\TenantAnnouncements\TenantAnnouncementService;
+use Illuminate\Http\JsonResponse;
+use Illuminate\Http\Request;
+use Illuminate\Http\Resources\Json\AnonymousResourceCollection;
+use Illuminate\Support\Arr;
+
+class TenantAnnouncementController extends Controller
+{
+    public function index(
+        Request $request,
+        TenantAnnouncementService $service
+    ): AnonymousResourceCollection|JsonResponse {
+        $tenant = $request->attributes->get('tenant');
+
+        if (! $tenant instanceof Tenant) {
+            $decoded = $request->attributes->get('decoded_token', []);
+            $tenantId = Arr::get($decoded, 'tenant_id');
+
+            if ($tenantId) {
+                $tenant = Tenant::query()->find($tenantId);
+            }
+        }
+
+        if (! $tenant instanceof Tenant) {
+            return response()->json([
+                'message' => 'Tenant context missing.',
+            ], 401);
+        }
+
+        $announcements = $service->visibleAnnouncementsForTenant($tenant);
+
+        return TenantAnnouncementResource::collection($announcements);
+    }
+}
diff --git a/app/Http/Controllers/MarketingController.php b/app/Http/Controllers/MarketingController.php
index 59e3211..ea64ed7 100644
--- a/app/Http/Controllers/MarketingController.php
+++ b/app/Http/Controllers/MarketingController.php
@@ -311,32 +311,18 @@ class MarketingController extends Controller
     public function blogIndex(Request $request, string $locale)
     {
         $locale = $locale ?: app()->getLocale();
-        Log::info('Blog Index Debug - Initial', [
-            'locale' => $locale,
-            'full_url' => $request->fullUrl(),
-        ]);
-
         $query = BlogPost::query()
             ->with('author')
             ->whereHas('category', function ($query) {
                 $query->where('slug', 'blog');
             });
 
-        $totalWithCategory = $query->count();
-        Log::info('Blog Index Debug - With Category', ['count' => $totalWithCategory]);
-
         $query->where('is_published', true)
             ->whereNotNull('published_at')
             ->where('published_at', '<=', now());
 
-        $totalPublished = $query->count();
-        Log::info('Blog Index Debug - Published', ['count' => $totalPublished]);
-
         // Removed translation filter for now
 
-        $totalWithTranslation = $query->count();
-        Log::info('Blog Index Debug - With Translation', ['count' => $totalWithTranslation, 'locale' => $locale]);
-
         $posts = $query->orderBy('published_at', 'desc')
             ->paginate(4)
             ->through(function (BlogPost $post) use ($locale) {
@@ -354,13 +340,6 @@ class MarketingController extends Controller
                 ];
             });
 
-        Log::info('Blog Index Debug - Final Posts', [
-            'count' => $posts->count(),
-            'total' => $posts->total(),
-            'posts_data' => $posts->toArray(),
-            'first_post_title' => $posts->count() > 0 ? ($posts->first()['title'] ?? 'No title') : 'No posts',
-        ]);
-
         $postsArray = $posts->toArray();
         $postsArray['links'] = array_map(function (array $link) use ($locale) {
             return [
diff --git a/app/Http/Resources/Tenant/TenantAnnouncementResource.php b/app/Http/Resources/Tenant/TenantAnnouncementResource.php
new file mode 100644
index 0000000..6b867d5
--- /dev/null
+++ b/app/Http/Resources/Tenant/TenantAnnouncementResource.php
@@ -0,0 +1,29 @@
+<?php
+
+namespace App\Http\Resources\Tenant;
+
+use Illuminate\Http\Request;
+use Illuminate\Http\Resources\Json\JsonResource;
+
+class TenantAnnouncementResource extends JsonResource
+{
+    /**
+     * Transform the resource into an array.
+     *
+     * @return array<string, mixed>
+     */
+    public function toArray(Request $request): array
+    {
+        return [
+            'id' => $this->id,
+            'title' => $this->title,
+            'body' => $this->body,
+            'cta_label' => $this->cta_label,
+            'cta_url' => $this->cta_url,
+            'status' => $this->status?->value ?? $this->status,
+            'starts_at' => $this->starts_at?->toISOString(),
+            'ends_at' => $this->ends_at?->toISOString(),
+            'created_at' => $this->created_at?->toISOString(),
+        ];
+    }
+}
diff --git a/app/Models/Tenant.php b/app/Models/Tenant.php
index 8b32603..adb74e3 100644
--- a/app/Models/Tenant.php
+++ b/app/Models/Tenant.php
@@ -70,6 +70,17 @@ class Tenant extends Model
         return $this->hasMany(TenantPackage::class);
     }
 
+    public function announcements(): BelongsToMany
+    {
+        return $this->belongsToMany(TenantAnnouncement::class, 'tenant_announcement_targets')
+            ->withTimestamps();
+    }
+
+    public function announcementDeliveries(): HasMany
+    {
+        return $this->hasMany(TenantAnnouncementDelivery::class);
+    }
+
     public function packages(): BelongsToMany
     {
         return $this->belongsToMany(Package::class, 'tenant_packages')
diff --git a/app/Models/TenantAnnouncement.php b/app/Models/TenantAnnouncement.php
new file mode 100644
index 0000000..dd4bd4f
--- /dev/null
+++ b/app/Models/TenantAnnouncement.php
@@ -0,0 +1,121 @@
+<?php
+
+namespace App\Models;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementSegment;
+use App\Enums\TenantAnnouncementStatus;
+use Illuminate\Database\Eloquent\Builder;
+use Illuminate\Database\Eloquent\Factories\HasFactory;
+use Illuminate\Database\Eloquent\Model;
+use Illuminate\Database\Eloquent\Relations\BelongsTo;
+use Illuminate\Database\Eloquent\Relations\BelongsToMany;
+use Illuminate\Database\Eloquent\Relations\HasMany;
+use Illuminate\Support\Carbon;
+
+/**
+ * @property array<int, string>|null $segments
+ */
+class TenantAnnouncement extends Model
+{
+    /** @use HasFactory<\Database\Factories\TenantAnnouncementFactory> */
+    use HasFactory;
+
+    protected $fillable = [
+        'title',
+        'body',
+        'cta_label',
+        'cta_url',
+        'status',
+        'audience',
+        'segments',
+        'starts_at',
+        'ends_at',
+        'email_enabled',
+        'created_by',
+        'updated_by',
+    ];
+
+    protected function casts(): array
+    {
+        return [
+            'status' => TenantAnnouncementStatus::class,
+            'audience' => TenantAnnouncementAudience::class,
+            'segments' => 'array',
+            'email_enabled' => 'boolean',
+            'starts_at' => 'datetime',
+            'ends_at' => 'datetime',
+        ];
+    }
+
+    public function tenants(): BelongsToMany
+    {
+        return $this->belongsToMany(Tenant::class, 'tenant_announcement_targets')
+            ->withTimestamps();
+    }
+
+    public function deliveries(): HasMany
+    {
+        return $this->hasMany(TenantAnnouncementDelivery::class);
+    }
+
+    public function creator(): BelongsTo
+    {
+        return $this->belongsTo(User::class, 'created_by');
+    }
+
+    public function updater(): BelongsTo
+    {
+        return $this->belongsTo(User::class, 'updated_by');
+    }
+
+    public function scopeActive(Builder $query): void
+    {
+        $query->where('status', TenantAnnouncementStatus::ACTIVE->value)
+            ->where(function (Builder $builder) {
+                $builder->whereNull('starts_at')
+                    ->orWhere('starts_at', '<=', Carbon::now());
+            })
+            ->where(function (Builder $builder) {
+                $builder->whereNull('ends_at')
+                    ->orWhere('ends_at', '>', Carbon::now());
+            });
+    }
+
+    /**
+     * @param  array<int, TenantAnnouncementSegment|string>  $segments
+     */
+    public function matchesSegments(Tenant $tenant, array $segments): bool
+    {
+        if ($segments === []) {
+            return true;
+        }
+
+        foreach ($segments as $segment) {
+            $normalized = $segment instanceof TenantAnnouncementSegment
+                ? $segment
+                : TenantAnnouncementSegment::tryFrom((string) $segment);
+
+            if (! $normalized) {
+                continue;
+            }
+
+            if (! $this->matchesSegment($tenant, $normalized)) {
+                return false;
+            }
+        }
+
+        return true;
+    }
+
+    private function matchesSegment(Tenant $tenant, TenantAnnouncementSegment $segment): bool
+    {
+        return match ($segment) {
+            TenantAnnouncementSegment::ACTIVE_PACKAGE => $tenant->activeResellerPackage()->exists(),
+            TenantAnnouncementSegment::ACTIVE_STATUS => (bool) $tenant->is_active
+                && ! (bool) $tenant->is_suspended
+                && $tenant->pending_deletion_at === null
+                && $tenant->anonymized_at === null,
+        };
+    }
+}
diff --git a/app/Models/TenantAnnouncementDelivery.php b/app/Models/TenantAnnouncementDelivery.php
new file mode 100644
index 0000000..615f8fc
--- /dev/null
+++ b/app/Models/TenantAnnouncementDelivery.php
@@ -0,0 +1,39 @@
+<?php
+
+namespace App\Models;
+
+use App\Enums\TenantAnnouncementDeliveryStatus;
+use Illuminate\Database\Eloquent\Model;
+use Illuminate\Database\Eloquent\Relations\BelongsTo;
+
+class TenantAnnouncementDelivery extends Model
+{
+    protected $fillable = [
+        'tenant_announcement_id',
+        'tenant_id',
+        'channel',
+        'status',
+        'sent_at',
+        'failed_at',
+        'failure_reason',
+    ];
+
+    protected function casts(): array
+    {
+        return [
+            'status' => TenantAnnouncementDeliveryStatus::class,
+            'sent_at' => 'datetime',
+            'failed_at' => 'datetime',
+        ];
+    }
+
+    public function announcement(): BelongsTo
+    {
+        return $this->belongsTo(TenantAnnouncement::class, 'tenant_announcement_id');
+    }
+
+    public function tenant(): BelongsTo
+    {
+        return $this->belongsTo(Tenant::class);
+    }
+}
diff --git a/app/Notifications/TenantAnnouncementNotification.php b/app/Notifications/TenantAnnouncementNotification.php
new file mode 100644
index 0000000..f966371
--- /dev/null
+++ b/app/Notifications/TenantAnnouncementNotification.php
@@ -0,0 +1,78 @@
+<?php
+
+namespace App\Notifications;
+
+use App\Models\Tenant;
+use App\Models\TenantAnnouncement;
+use Illuminate\Bus\Queueable;
+use Illuminate\Contracts\Queue\ShouldQueue;
+use Illuminate\Notifications\Messages\MailMessage;
+use Illuminate\Notifications\Notification;
+
+class TenantAnnouncementNotification extends Notification implements ShouldQueue
+{
+    use Queueable;
+
+    /**
+     * Create a new notification instance.
+     */
+    public function __construct(
+        private readonly TenantAnnouncement $announcement,
+        private readonly Tenant $tenant,
+    ) {
+        $this->afterCommit();
+    }
+
+    /**
+     * Get the notification's delivery channels.
+     *
+     * @return array<int, string>
+     */
+    public function via(object $notifiable): array
+    {
+        return ['mail'];
+    }
+
+    /**
+     * Get the mail representation of the notification.
+     */
+    public function toMail(object $notifiable): MailMessage
+    {
+        $lines = collect(preg_split('/\r\n|\r|\n/', $this->announcement->body ?? ''))
+            ->map(fn ($line) => trim($line ?? ''))
+            ->filter()
+            ->values()
+            ->all();
+
+        $ctaLabel = $this->announcement->cta_label ?: 'Event-Admin öffnen';
+        $ctaUrl = $this->announcement->cta_url ?: url('/event-admin');
+
+        return (new MailMessage)
+            ->subject($this->announcement->title)
+            ->view('emails.notifications.basic', [
+                'title' => $this->announcement->title,
+                'preheader' => $this->announcement->title,
+                'heroTitle' => $this->announcement->title,
+                'lines' => $lines,
+                'cta' => [
+                    [
+                        'label' => $ctaLabel,
+                        'url' => $ctaUrl,
+                    ],
+                ],
+            ]);
+    }
+
+    /**
+     * Get the array representation of the notification.
+     *
+     * @return array<string, mixed>
+     */
+    public function toArray(object $notifiable): array
+    {
+        return [
+            'announcement_id' => $this->announcement->getKey(),
+            'tenant_id' => $this->tenant->getKey(),
+        ];
+    }
+}
diff --git a/app/Services/Audit/SuperAdminAuditLogger.php b/app/Services/Audit/SuperAdminAuditLogger.php
index 2a70a57..bfb54d0 100644
--- a/app/Services/Audit/SuperAdminAuditLogger.php
+++ b/app/Services/Audit/SuperAdminAuditLogger.php
@@ -49,6 +49,16 @@ class SuperAdminAuditLogger
         ?string $source = null,
         ?User $actor = null
     ): ?SuperAdminActionLog {
+        if ($operation === 'updated') {
+            $changed = array_keys($record->getChanges());
+
+            if ($changed === []) {
+                return null;
+            }
+
+            $metadata = self::fieldsMetadata($changed);
+        }
+
         $action = $this->formatAction($record, $operation);
 
         return $this->record(
diff --git a/app/Services/TenantAnnouncements/TenantAnnouncementService.php b/app/Services/TenantAnnouncements/TenantAnnouncementService.php
new file mode 100644
index 0000000..fb546b1
--- /dev/null
+++ b/app/Services/TenantAnnouncements/TenantAnnouncementService.php
@@ -0,0 +1,234 @@
+<?php
+
+namespace App\Services\TenantAnnouncements;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementDeliveryStatus;
+use App\Enums\TenantAnnouncementSegment;
+use App\Enums\TenantAnnouncementStatus;
+use App\Models\Tenant;
+use App\Models\TenantAnnouncement;
+use App\Models\TenantAnnouncementDelivery;
+use App\Notifications\TenantAnnouncementNotification;
+use Illuminate\Database\Eloquent\Builder;
+use Illuminate\Support\Carbon;
+use Illuminate\Support\Collection;
+use Illuminate\Support\Facades\Notification;
+use Throwable;
+
+class TenantAnnouncementService
+{
+    /**
+     * @return array{activated: int, archived: int, queued: int}
+     */
+    public function process(): array
+    {
+        $activated = $this->activateScheduled();
+        $archived = $this->archiveExpired();
+        $queued = $this->dispatchActiveEmails();
+
+        return [
+            'activated' => $activated,
+            'archived' => $archived,
+            'queued' => $queued,
+        ];
+    }
+
+    public function visibleAnnouncementsForTenant(Tenant $tenant): Collection
+    {
+        $baseQuery = TenantAnnouncement::query()->active();
+
+        $all = (clone $baseQuery)
+            ->where('audience', TenantAnnouncementAudience::ALL->value)
+            ->get();
+
+        $tenants = (clone $baseQuery)
+            ->where('audience', TenantAnnouncementAudience::TENANTS->value)
+            ->whereHas('tenants', fn (Builder $query) => $query->where('tenant_id', $tenant->id))
+            ->get();
+
+        $segments = (clone $baseQuery)
+            ->where('audience', TenantAnnouncementAudience::SEGMENTS->value)
+            ->get()
+            ->filter(function (TenantAnnouncement $announcement) use ($tenant): bool {
+                $segments = $this->normalizeSegments($announcement->segments ?? []);
+
+                return $announcement->matchesSegments($tenant, $segments);
+            });
+
+        return $all
+            ->merge($tenants)
+            ->merge($segments)
+            ->sortByDesc(fn (TenantAnnouncement $announcement) => $announcement->starts_at ?? $announcement->created_at)
+            ->values();
+    }
+
+    private function activateScheduled(): int
+    {
+        return TenantAnnouncement::query()
+            ->where('status', TenantAnnouncementStatus::SCHEDULED->value)
+            ->where(function (Builder $builder): void {
+                $builder->whereNull('starts_at')
+                    ->orWhere('starts_at', '<=', Carbon::now());
+            })
+            ->update([
+                'status' => TenantAnnouncementStatus::ACTIVE->value,
+                'updated_at' => now(),
+            ]);
+    }
+
+    private function archiveExpired(): int
+    {
+        return TenantAnnouncement::query()
+            ->where('status', TenantAnnouncementStatus::ACTIVE->value)
+            ->whereNotNull('ends_at')
+            ->where('ends_at', '<', Carbon::now())
+            ->update([
+                'status' => TenantAnnouncementStatus::ARCHIVED->value,
+                'updated_at' => now(),
+            ]);
+    }
+
+    private function dispatchActiveEmails(): int
+    {
+        $announcements = TenantAnnouncement::query()
+            ->active()
+            ->where('email_enabled', true)
+            ->get();
+
+        $queued = 0;
+
+        foreach ($announcements as $announcement) {
+            $queued += $this->dispatchEmailsForAnnouncement($announcement);
+        }
+
+        return $queued;
+    }
+
+    private function dispatchEmailsForAnnouncement(TenantAnnouncement $announcement): int
+    {
+        $tenants = $this->targetTenants($announcement);
+
+        if ($tenants->isEmpty()) {
+            return 0;
+        }
+
+        $deliveredTenantIds = TenantAnnouncementDelivery::query()
+            ->where('tenant_announcement_id', $announcement->id)
+            ->where('channel', 'mail')
+            ->pluck('tenant_id')
+            ->all();
+
+        $queued = 0;
+
+        foreach ($tenants as $tenant) {
+            if (in_array($tenant->id, $deliveredTenantIds, true)) {
+                continue;
+            }
+
+            $queued += $this->queueDelivery($announcement, $tenant);
+        }
+
+        return $queued;
+    }
+
+    private function queueDelivery(TenantAnnouncement $announcement, Tenant $tenant): int
+    {
+        $recipient = $this->resolveRecipient($tenant);
+
+        if (! $recipient) {
+            TenantAnnouncementDelivery::query()->create([
+                'tenant_announcement_id' => $announcement->id,
+                'tenant_id' => $tenant->id,
+                'channel' => 'mail',
+                'status' => TenantAnnouncementDeliveryStatus::SKIPPED->value,
+                'failed_at' => now(),
+                'failure_reason' => 'missing_recipient',
+            ]);
+
+            return 0;
+        }
+
+        try {
+            Notification::route('mail', $recipient)
+                ->notify(new TenantAnnouncementNotification($announcement, $tenant));
+
+            TenantAnnouncementDelivery::query()->create([
+                'tenant_announcement_id' => $announcement->id,
+                'tenant_id' => $tenant->id,
+                'channel' => 'mail',
+                'status' => TenantAnnouncementDeliveryStatus::QUEUED->value,
+                'sent_at' => now(),
+            ]);
+
+            return 1;
+        } catch (Throwable $exception) {
+            TenantAnnouncementDelivery::query()->create([
+                'tenant_announcement_id' => $announcement->id,
+                'tenant_id' => $tenant->id,
+                'channel' => 'mail',
+                'status' => TenantAnnouncementDeliveryStatus::FAILED->value,
+                'failed_at' => now(),
+                'failure_reason' => class_basename($exception),
+            ]);
+        }
+
+        return 0;
+    }
+
+    private function resolveRecipient(Tenant $tenant): ?string
+    {
+        $email = $tenant->contact_email ?: $tenant->user?->email;
+
+        return $email ?: null;
+    }
+
+    private function targetTenants(TenantAnnouncement $announcement): Collection
+    {
+        $query = Tenant::query()->with('user');
+
+        if ($announcement->audience === TenantAnnouncementAudience::TENANTS) {
+            $query->whereHas('announcements', fn (Builder $builder) => $builder->where('tenant_announcements.id', $announcement->id));
+        }
+
+        if ($announcement->audience === TenantAnnouncementAudience::SEGMENTS) {
+            $this->applySegmentFilters($query, $this->normalizeSegments($announcement->segments ?? []));
+        }
+
+        return $query->get();
+    }
+
+    /**
+     * @param  array<int, TenantAnnouncementSegment|string>  $segments
+     */
+    private function applySegmentFilters(Builder $query, array $segments): void
+    {
+        foreach ($segments as $segment) {
+            $normalized = $segment instanceof TenantAnnouncementSegment
+                ? $segment
+                : TenantAnnouncementSegment::tryFrom((string) $segment);
+
+            if (! $normalized) {
+                continue;
+            }
+
+            match ($normalized) {
+                TenantAnnouncementSegment::ACTIVE_PACKAGE => $query->whereHas('activeResellerPackage'),
+                TenantAnnouncementSegment::ACTIVE_STATUS => $query
+                    ->where('is_active', true)
+                    ->where('is_suspended', false)
+                    ->whereNull('pending_deletion_at')
+                    ->whereNull('anonymized_at'),
+            };
+        }
+    }
+
+    /**
+     * @param  array<int, mixed>  $segments
+     * @return array<int, TenantAnnouncementSegment|string>
+     */
+    private function normalizeSegments(array $segments): array
+    {
+        return array_values(array_filter($segments, fn ($segment) => $segment !== null && $segment !== ''));
+    }
+}
diff --git a/database/factories/TenantAnnouncementFactory.php b/database/factories/TenantAnnouncementFactory.php
new file mode 100644
index 0000000..4bced6a
--- /dev/null
+++ b/database/factories/TenantAnnouncementFactory.php
@@ -0,0 +1,34 @@
+<?php
+
+namespace Database\Factories;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementStatus;
+use Illuminate\Database\Eloquent\Factories\Factory;
+
+/**
+ * @extends \Illuminate\Database\Eloquent\Factories\Factory<\App\Models\TenantAnnouncement>
+ */
+class TenantAnnouncementFactory extends Factory
+{
+    /**
+     * Define the model's default state.
+     *
+     * @return array<string, mixed>
+     */
+    public function definition(): array
+    {
+        return [
+            'title' => $this->faker->sentence(4),
+            'body' => $this->faker->paragraph(3),
+            'cta_label' => null,
+            'cta_url' => null,
+            'status' => TenantAnnouncementStatus::DRAFT,
+            'audience' => TenantAnnouncementAudience::ALL,
+            'segments' => [],
+            'email_enabled' => true,
+            'starts_at' => null,
+            'ends_at' => null,
+        ];
+    }
+}
diff --git a/database/migrations/2026_01_02_122155_create_tenant_announcements_table.php b/database/migrations/2026_01_02_122155_create_tenant_announcements_table.php
new file mode 100644
index 0000000..de78fdc
--- /dev/null
+++ b/database/migrations/2026_01_02_122155_create_tenant_announcements_table.php
@@ -0,0 +1,42 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    /**
+     * Run the migrations.
+     */
+    public function up(): void
+    {
+        Schema::create('tenant_announcements', function (Blueprint $table) {
+            $table->id();
+            $table->string('title', 160);
+            $table->text('body');
+            $table->string('cta_label', 160)->nullable();
+            $table->string('cta_url', 255)->nullable();
+            $table->string('status', 24)->default('draft');
+            $table->string('audience', 24)->default('all');
+            $table->json('segments')->nullable();
+            $table->boolean('email_enabled')->default(true);
+            $table->timestamp('starts_at')->nullable();
+            $table->timestamp('ends_at')->nullable();
+            $table->foreignIdFor(\App\Models\User::class, 'created_by')->nullable()->constrained('users')->nullOnDelete();
+            $table->foreignIdFor(\App\Models\User::class, 'updated_by')->nullable()->constrained('users')->nullOnDelete();
+            $table->timestamps();
+
+            $table->index(['status', 'starts_at']);
+            $table->index(['audience', 'status']);
+        });
+    }
+
+    /**
+     * Reverse the migrations.
+     */
+    public function down(): void
+    {
+        Schema::dropIfExists('tenant_announcements');
+    }
+};
diff --git a/database/migrations/2026_01_02_122257_create_tenant_announcement_deliveries_table.php b/database/migrations/2026_01_02_122257_create_tenant_announcement_deliveries_table.php
new file mode 100644
index 0000000..b070005
--- /dev/null
+++ b/database/migrations/2026_01_02_122257_create_tenant_announcement_deliveries_table.php
@@ -0,0 +1,36 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    /**
+     * Run the migrations.
+     */
+    public function up(): void
+    {
+        Schema::create('tenant_announcement_deliveries', function (Blueprint $table) {
+            $table->id();
+            $table->foreignId('tenant_announcement_id')->constrained('tenant_announcements')->cascadeOnDelete();
+            $table->foreignId('tenant_id')->constrained('tenants')->cascadeOnDelete();
+            $table->string('channel', 24)->default('mail');
+            $table->string('status', 24)->default('queued');
+            $table->timestamp('sent_at')->nullable();
+            $table->timestamp('failed_at')->nullable();
+            $table->string('failure_reason', 255)->nullable();
+            $table->timestamps();
+
+            $table->unique(['tenant_announcement_id', 'tenant_id', 'channel'], 'tenant_announcement_delivery_unique');
+        });
+    }
+
+    /**
+     * Reverse the migrations.
+     */
+    public function down(): void
+    {
+        Schema::dropIfExists('tenant_announcement_deliveries');
+    }
+};
diff --git a/database/migrations/2026_01_02_122330_create_tenant_announcement_targets_table.php b/database/migrations/2026_01_02_122330_create_tenant_announcement_targets_table.php
new file mode 100644
index 0000000..59f372c
--- /dev/null
+++ b/database/migrations/2026_01_02_122330_create_tenant_announcement_targets_table.php
@@ -0,0 +1,31 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    /**
+     * Run the migrations.
+     */
+    public function up(): void
+    {
+        Schema::create('tenant_announcement_targets', function (Blueprint $table) {
+            $table->id();
+            $table->foreignId('tenant_announcement_id')->constrained('tenant_announcements')->cascadeOnDelete();
+            $table->foreignId('tenant_id')->constrained('tenants')->cascadeOnDelete();
+            $table->timestamps();
+
+            $table->unique(['tenant_announcement_id', 'tenant_id'], 'tenant_announcement_target_unique');
+        });
+    }
+
+    /**
+     * Reverse the migrations.
+     */
+    public function down(): void
+    {
+        Schema::dropIfExists('tenant_announcement_targets');
+    }
+};
diff --git a/database/seeders/TenantAnnouncementSeeder.php b/database/seeders/TenantAnnouncementSeeder.php
new file mode 100644
index 0000000..61d9a15
--- /dev/null
+++ b/database/seeders/TenantAnnouncementSeeder.php
@@ -0,0 +1,16 @@
+<?php
+
+namespace Database\Seeders;
+
+use Illuminate\Database\Seeder;
+
+class TenantAnnouncementSeeder extends Seeder
+{
+    /**
+     * Run the database seeds.
+     */
+    public function run(): void
+    {
+        //
+    }
+}
diff --git a/routes/api.php b/routes/api.php
index 0595f84..cec40f9 100644
--- a/routes/api.php
+++ b/routes/api.php
@@ -27,6 +27,7 @@ use App\Http\Controllers\Api\Tenant\SettingsController;
 use App\Http\Controllers\Api\Tenant\TaskCollectionController;
 use App\Http\Controllers\Api\Tenant\TaskController;
 use App\Http\Controllers\Api\Tenant\TenantAdminTokenController;
+use App\Http\Controllers\Api\Tenant\TenantAnnouncementController;
 use App\Http\Controllers\Api\Tenant\TenantFeedbackController;
 use App\Http\Controllers\Api\TenantBillingController;
 use App\Http\Controllers\Api\TenantPackageController;
@@ -162,6 +163,9 @@ Route::prefix('v1')->name('api.v1.')->group(function () {
         Route::get('dashboard', DashboardController::class)
             ->middleware('tenant.admin')
             ->name('tenant.dashboard');
+        Route::get('announcements', [TenantAnnouncementController::class, 'index'])
+            ->middleware('tenant.admin')
+            ->name('tenant.announcements.index');
         Route::get('event-types', EventTypeController::class)->name('tenant.event-types.index');
 
         Route::get('events', [EventController::class, 'index'])
diff --git a/routes/console.php b/routes/console.php
index 2220532..a5265be 100644
--- a/routes/console.php
+++ b/routes/console.php
@@ -27,3 +27,5 @@ Artisan::command('metrics:package-limits {--reset}', function () {
 Schedule::command('model:prune', [
     '--model' => [SuperAdminActionLog::class],
 ])->daily();
+
+Schedule::command('tenant-announcements:dispatch')->everyFiveMinutes();
diff --git a/tests/Feature/Api/Tenant/TenantAnnouncementsTest.php b/tests/Feature/Api/Tenant/TenantAnnouncementsTest.php
new file mode 100644
index 0000000..9859331
--- /dev/null
+++ b/tests/Feature/Api/Tenant/TenantAnnouncementsTest.php
@@ -0,0 +1,68 @@
+<?php
+
+namespace Tests\Feature\Api\Tenant;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementSegment;
+use App\Enums\TenantAnnouncementStatus;
+use App\Models\Tenant;
+use App\Models\TenantAnnouncement;
+use App\Models\TenantPackage;
+use Tests\Feature\Tenant\TenantTestCase;
+
+class TenantAnnouncementsTest extends TenantTestCase
+{
+    public function test_announcements_endpoint_returns_targeted_active_announcements(): void
+    {
+        $otherTenant = Tenant::factory()->create();
+
+        $activeAll = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::ALL,
+        ]);
+
+        $targeted = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::TENANTS,
+        ]);
+        $targeted->tenants()->attach($this->tenant->id);
+
+        $segmentActive = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::SEGMENTS,
+            'segments' => [TenantAnnouncementSegment::ACTIVE_STATUS->value],
+        ]);
+
+        $segmentPackage = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::SEGMENTS,
+            'segments' => [TenantAnnouncementSegment::ACTIVE_PACKAGE->value],
+        ]);
+
+        TenantPackage::factory()->for($this->tenant)->create(['active' => true]);
+
+        $otherTargeted = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::TENANTS,
+        ]);
+        $otherTargeted->tenants()->attach($otherTenant->id);
+
+        $draft = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::DRAFT,
+            'audience' => TenantAnnouncementAudience::ALL,
+        ]);
+
+        $response = $this->authenticatedRequest('GET', '/api/v1/tenant/announcements');
+
+        $response->assertOk();
+
+        $ids = collect($response->json('data'))->pluck('id');
+
+        $this->assertTrue($ids->contains($activeAll->id));
+        $this->assertTrue($ids->contains($targeted->id));
+        $this->assertTrue($ids->contains($segmentActive->id));
+        $this->assertTrue($ids->contains($segmentPackage->id));
+        $this->assertFalse($ids->contains($otherTargeted->id));
+        $this->assertFalse($ids->contains($draft->id));
+    }
+}
diff --git a/tests/Feature/Console/DispatchTenantAnnouncementsCommandTest.php b/tests/Feature/Console/DispatchTenantAnnouncementsCommandTest.php
new file mode 100644
index 0000000..7e3a011
--- /dev/null
+++ b/tests/Feature/Console/DispatchTenantAnnouncementsCommandTest.php
@@ -0,0 +1,55 @@
+<?php
+
+namespace Tests\Feature\Console;
+
+use App\Enums\TenantAnnouncementAudience;
+use App\Enums\TenantAnnouncementDeliveryStatus;
+use App\Enums\TenantAnnouncementStatus;
+use App\Models\Tenant;
+use App\Models\TenantAnnouncement;
+use App\Models\TenantAnnouncementDelivery;
+use App\Models\User;
+use App\Notifications\TenantAnnouncementNotification;
+use Illuminate\Foundation\Testing\RefreshDatabase;
+use Illuminate\Support\Facades\Notification;
+use Tests\TestCase;
+
+class DispatchTenantAnnouncementsCommandTest extends TestCase
+{
+    use RefreshDatabase;
+
+    public function test_dispatches_email_notifications_for_active_announcements(): void
+    {
+        Notification::fake();
+
+        $tenant = Tenant::factory()->create(['contact_email' => 'owner@example.com']);
+        $user = User::factory()->create(['tenant_id' => $tenant->id]);
+        $tenant->user()->associate($user)->save();
+
+        $announcement = TenantAnnouncement::factory()->create([
+            'status' => TenantAnnouncementStatus::ACTIVE,
+            'audience' => TenantAnnouncementAudience::ALL,
+            'email_enabled' => true,
+        ]);
+
+        $this->artisan('tenant-announcements:dispatch')->assertExitCode(0);
+
+        Notification::assertSentOnDemand(
+            TenantAnnouncementNotification::class,
+            function (TenantAnnouncementNotification $notification, array $channels, $notifiable) use ($announcement, $tenant): bool {
+                $payload = $notification->toArray($notifiable);
+
+                return in_array('mail', $channels, true)
+                    && $payload['announcement_id'] === $announcement->id
+                    && $payload['tenant_id'] === $tenant->id;
+            }
+        );
+
+        $this->assertTrue(TenantAnnouncementDelivery::query()
+            ->where('tenant_announcement_id', $announcement->id)
+            ->where('tenant_id', $tenant->id)
+            ->where('channel', 'mail')
+            ->where('status', TenantAnnouncementDeliveryStatus::QUEUED)
+            ->exists());
+    }
+}
diff --git a/tests/Feature/SuperAdminAuditLogSettingsTest.php b/tests/Feature/SuperAdminAuditLogSettingsTest.php
index e3c8be7..5aa1bfc 100644
--- a/tests/Feature/SuperAdminAuditLogSettingsTest.php
+++ b/tests/Feature/SuperAdminAuditLogSettingsTest.php
@@ -2,7 +2,9 @@
 
 namespace Tests\Feature;
 
+use App\Filament\Resources\EventResource\Pages\ManageWatermark;
 use App\Filament\SuperAdmin\Pages\GuestPolicySettingsPage;
+use App\Models\Event;
 use App\Models\SuperAdminActionLog;
 use App\Models\User;
 use Filament\Facades\Filament;
@@ -29,6 +31,24 @@ class SuperAdminAuditLogSettingsTest extends TestCase
             ->exists());
     }
 
+    public function test_event_watermark_save_creates_audit_log(): void
+    {
+        $user = User::factory()->create(['role' => 'super_admin']);
+        $event = Event::factory()->create();
+
+        $this->bootSuperAdminPanel($user);
+
+        Livewire::test(ManageWatermark::class, ['record' => $event->getKey()])
+            ->set('watermark_mode', 'base')
+            ->set('watermark_position', 'top-left')
+            ->call('save');
+
+        $this->assertTrue(SuperAdminActionLog::query()
+            ->where('action', 'event.watermark_updated')
+            ->where('subject_id', $event->id)
+            ->exists());
+    }
+
     private function bootSuperAdminPanel(User $user): void
     {
         $panel = Filament::getPanel('superadmin');