Private investment firm GMF Capital (GMF) today announced it has completed the acquisition of the controlling majority stake of Motorsport Network Media LLC (MSNM), a global digital media platform.
Terms of the acquisition include GMF Media, affiliate of GMF Capital, acquiring the stake with an added option to buy the remaining minority interest at a later date.
Nearly 50 flagship motorsport racing and automotive digital properties are now under GMF’s control include racing brands such as Motorsport.com, Autosport, Motorsport-Total, and GPOne, as well as automotive industry brands such as Motor1.com and InsideEVs.com.
Gary Fegel, founder and principal of GMF Capital, said:
“We are excited to acquire Motorsport Network Media’s impressive, world-class portfolio of media assets,”
“We will leverage the brands’ market-leading position across the motorsport and automotive industries and push the business to the centre of fandom. Our acquisition will allow the business to aggressively pursue new growth opportunities, which will benefit employees, advertisers, partners, and tens of millions of users worldwide.”
The acquisition is the first for GMF in the sports, automotive, and media category. Since its inception in 2013, GMF Capital and its affiliates have invested more than $5.5 billion primarily in the areas of private equity, real estate, and alternative investments.