The MAG Retail Group has  completely divested itself of its media holdings, as we can now bring you word regarding the sale of Cycle News to the newly formed Powersport Media LLC company, which was founded by Sean Finley, Bryan Robb, and Jesse Ziegler.

In the interest of transparency, Asphalt & Rubber readers should be aware of the fact that Finely and Robb also own Digital Throttle, an advertising network that caters to the motorcycle and automotive industries, and that Asphalt & Rubber is one of Digital Throttle’s clients, as is Cycle News.

Back to the matter at hand, the change in ownership for Cycle News is the second such change in recent times, as Cycle News was sold to MAG near the end for 2010.

Industry gossip suggests that this deal likely saved Cycle News from following the fate of its sister publication, Motorcycle USA, which was shutdown last week.