The terms of the acquisition provide for GMF Media, an affiliate of GMF Capital, to acquire the majority stake in MSNM, with an option to purchase the remaining minority stake at a later date.
MSNM, with over 40 million monthly users and an active social media community of over 15 million followers, is the world’s largest independent automotive and motorsports media platform.
“We will leverage the brands market-leading position in the motorsport and automotive industries. Our acquisition will enable the company to aggressively pursue new growth opportunities, benefiting employees, advertisers, partners and tens of millions of users worldwide”.
The acquisition is a first for GMF in the sports, automotive and media sectors. Since its inception in 2013, GMF Capital and its affiliates have invested more than $5.5 billion primarily in the private equity, real estate and alternative investment sectors.
“Today’s announcement marks the next exciting chapter for Motorsport Network and for our flagship media business,” said James Allen, president of Motorsport Network -. We have seen significant acquisition interest in our media businesses over the years, but we have found in GMF Capital a buyer who truly appreciates what we have built and shares our vision for the future. The media franchise has continued to perform well and we believe it will grow under the leadership of GMF Capital.”
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