Motorsport Network Media (MSNM), the US-based digital media company, has today (June 29) been acquired by leading private investment firm GMF Capital.
The deal entails the GMF Media subsidiary taking majority control of MSNM, with an option for buying the remaining minority stake at a later date.
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This marks GMF’s first acquisition in the automotive sports media sector, with more than 50 “flagship motor racing and automotive digital properties” now under GMF’s control.
These include Motorsport.com, Autosport, Motorsport-Total, and GPOne, as well as the Motorsport Network brand name and the Motorsport.tv video platform.
Gary Fegel, founder and director of GMF Capital, said: “We are delighted to acquire the impressive portfolio of world-renowned media assets of Motorsport Network Media, which is poised for significant growth as motorsport, particularly Formula 1, continues to grow in popularity in the United States. United and around the world.
“We will leverage the leadership position of brands in the motorsport and automotive industries and put the company at the center of the fandom.
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By GlobalDataJames Allen, Motorsport Network’s president, added: “Over the years, our media assets have generated considerable interest, but we have found in GMF Capital a buyer who truly appreciates what we have built and who shares our vision for the future. The media franchise continues to perform well and we are confident it will thrive under GMF Capital's leadership.”
