GCN is for sale | MTB Mag

GCN is for sale | MTB Mag
GCN is for sale | MTB Mag

The news was given by Escape Collective: Global Cycling Network (GCN) it would be for sale. Play Sports Network (PSN), the company that owns Global Cycling Network (GCN), which is itself part of the Warner Bros. Discovery portfolio, is about to be put up for sale.

Escape Collective reports that “According to sources familiar with the company’s plans, who requested anonymity as they were not authorized to speak on the matter, at least two well-known entities in the cycling world are in the running“.

One of the two buyers would be Outside Interactive Inc., a conglomerate of outdoor publications and mapping applications that acquired cycling publications such as Peloton, CyclingTips, Pinkbike and VeloNews before closing or rebranding all publications except Pinkbike (Escape Collective was founded by “redemptions” of this reshuffle).

A second interested party is expected to be Play Sports founder Simon Wear, who sold Play Sports Network to Discovery in 2021. Wear remained on Play Sports’ board of directors, but left his role in early 2023.

In a short time, thanks to synergies with Eurosport (also owned by Warner Bros. Discovery), a large part of the cycling-related content moved to GCN, making the latter a streaming service and not just a Youtube channel, closing the Eurosport player . In February 2022 Discovery also acquired the rights to the 2023-2030 Mountain Bike World Cup series, which were combined with Eurosport’s extensive portfolio of road events, including the Tour de France.

The reason for the sale is easily understood and summarized: “the company recorded a loss in its latest public report, relating to the year ended December 2021, and according to Escape Collective the situation remains so. Play Sports’ after-tax loss was £10,022,044 in 2021, up from £6,344,153 in 2020, primarily due to development costs and other costs associated with the GCN+ application. The app was also largely responsible for increasing revenues by around £7m in the same year, to a total of £17.2m.”

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