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.
Many insiders would have pegged Cycle News to see its doors shut before MotoUSA, since it struggled with traffic and was rumored to be operating in the red.
Instead, the Cycle News team will remain intact, with Kit Palmer as Editor, Rennie Scaysbrook as Road Test Editor, and Sunny Kwon as Art Director, along with Cycle News’s usual cast of contributors.
“Like many motorcycle enthusiast, I grew up reading Cycle News and it has been exciting to work with the team over the past five years,” said Sean Finley, co-founder of Powersport Media.
“Cycle News serves a unique niche in the market with the timeliest bike and product reviews available and most in-depth racing and industry news coverage. The all-digital delivery aligns with media consumption trends and we have some exciting ideas to expand delivery options and readership.”
It will be interesting to see where the Powersport Media takes Cycle News going forward, and if they can turn the publication into a healthy and profitable property. We wish them the best of luck.
Source: Powersport Media