20.7 C
London
Friday, June 21, 2024

GMF Capital acquires Motorsport Community Media LLC

Must read

- Advertisement -



GMF Capital (GMF), the household workplace for Gary Fegel and a number one non-public funding agency, as we speak introduced it has accomplished the acquisition of Motorsport Network Media LLC (MSNM), a worldwide digital media platform in motorsport and automotive, for an undisclosed sum.

Phrases of the acquisition embrace GMF Media, an affiliate of GMF Capital, buying the controlling majority stake in MSNM, with an possibility to purchase the remaining minority curiosity at a later date.

MSNM, with 40 million-plus month-to-month customers and an energetic social media neighborhood of greater than 15 million followers, is the world’s largest unbiased motorsport and automotive media platform.

Total, the practically 50 flagship motorsport and automotive digital properties now beneath GMF management embrace racing manufacturers comparable to Motorsport.com, Autosport, Motorsport-Whole, and GPOne, in addition to automotive trade manufacturers comparable to Motor1.com and InsideEVs.com.

The deal additionally consists of the Motorsport Network model identify, in addition to Motorsport.tv, the main video platform for stay and on demand streaming, and the Autosport Awards, the world’s premier motorsport racing annual awards ceremony.

- Advertisement -

“We’re excited to accumulate Motorsport Network Media’s spectacular, world-class portfolio of media belongings, that are primed for vital progress with the surging recognition of motorsport, notably Formulation 1, within the U.S. and internationally,” stated Gary Fegel, Founder and Principal of GMF Capital.

“We are going to leverage the manufacturers’ market-leading place throughout the motorsport and automotive industries and push the enterprise to the centre of fandom.

“Our acquisition will enable the enterprise to aggressively pursue new progress alternatives, which can profit workers, advertisers, companions, and tens of hundreds of thousands of customers worldwide.”

The acquisition is the primary for GMF within the sports activities, automotive, and media class. Since its inception in 2013, GMF Capital and its associates have invested greater than $5.5 billion primarily within the areas of personal fairness, actual property, and various investments.

“As we speak’s announcement marks the subsequent thrilling chapter for Motorsport Network and our main media enterprise,” stated James Allen, President of the Motorsport Network.

“Now we have had vital acquisition curiosity in our media belongings over time however present in GMF Capital a purchaser that actually values what we’ve constructed and shares our imaginative and prescient for the long run.

“The media franchise has continued robust efficiency, and we consider it’ll thrive beneath GMF Capital’s path.”



Source link

More articles

- Advertisement -

Latest article