Founders Reacquire GCN from Warner Bros. Discovery, Retaining Minority Stake
Simon Wear and Mia Walter reacquire GCN from Warner Bros. Discovery, retaining a minority share and continuing digital content while WBD keeps TV rights.
In a significant move for the cycling media world, Simon Wear and Mia Walter, founders of the Play Sports Network, have reacquired the Global Cycling Network (GCN) from Warner Bros. Discovery (WBD). This change marks a return to the original leadership of the popular cycling content provider.
The Acquisition Details
Warner Bros. Discovery, which had held a majority share in Play Sports Network since 2019, has sold the network back to its founders. WBD retains a minority stake, signaling an ongoing collaboration on the long-term development of the business. The Play Sports Network, based in Bath, UK, continues to thrive under the guidance of its founders, with Mia Walter as CEO and Simon Wear as executive chairman. Wear is also the founder and chairman of Shift Active Media.
Strategic Moves and Content Evolution
Despite the changes in ownership, GCN remains dedicated to producing high-quality cycling content. The network will continue to deliver articles, feature videos, and more across its website, YouTube channel, and other social media platforms.
While GCN+ ceased operations last fall, Warner Bros. Discovery has ensured that the cycling events previously streamed on the platform will continue to be accessible. These events have been moved to WBD-owned platforms, including Eurosport, Discovery+, and Max, which collectively offer over 1,000 cycling broadcasts annually. This move aligns with WBD's commitment to providing comprehensive live cycling coverage.
Background of the Acquisition
Simon Wear and Mia Walter have been pivotal figures in the cycling media industry. They founded the Play Sports Network in 2013 and quickly expanded its reach. Discovery, before its merger with Warner Bros., first acquired a minority share in 2017 and then a majority stake two years later. The reacquisition by Wear and Walter reflects their enduring vision and dedication to the cycling community.
The news of this acquisition was first reported by multiple UK-based news sources, citing a press release from Warner Bros. Discovery. According to SportsBusiness.com, the release emphasizes WBD's focus on maintaining world-class live cycling coverage through its various platforms while supporting the continued growth of Play Sports Network under its original leadership.
Looking Ahead
As GCN returns to the hands of its founders, the cycling community can look forward to continued innovation and high-quality content. The collaboration between Warner Bros. Discovery and Play Sports Network promises to enhance the long-term development of the business, ensuring that cycling enthusiasts worldwide have access to top-tier content and live event coverage.
Stay tuned for more updates on this exciting development and how it will shape the future of cycling media.
BRAIN Staff
