GCN owner Play Sports Group sells majority stake to Discovery
Play Sports Group, the company behind global online video behemoth Global Cycling Network, has sold a 71% controlling stake to American media giant Discovery. Digital cycling media brands Global Mountain Bike Network and Global Triathlon Network are also among PSG's offerings.
In 2018, the company launched five new international channels, a fan club, a consumer retail division and broadcast live racing services on its YouTube channels and via Facebook Watch.
In February, 2017 Discovery took a 20% stake in PSG, and this new increased share will see a global cycling-focused division formed within the company.
JB Perrette, Discovery President and CEO, said, “This is another important step in Discovery’s strategy of being the global leader in brands and products that power people’s passions.”
Founded in 2012, PSG's online technology, training, tutorials and behind-the-scenes content generates over 45 million video views every month, with 5.7 million social followers and 3.1 million subscribers.
The deal underpins Discovery's ambition to build a global cycling media ecosystem that leverages its principal sports brand Eurosport’s position as the major rights holder for cycling events in Europe.
Eurosport, who will be a key supporting partner of the Bicycling Australia Classics series over the next 18 months, holds an impressive cycling portfolio in Australia, offering all three Grand Tours as part of its package.
The first Grand Tour, the Giro d'Italia, begins on May 11th in Bologna.