Warner Bros. Discovery has bought the MotorTrend Group of automotive manufacturers to Hearst Magazines.
Phrases of the deal weren’t disclosed. MotorTrend Group’s portfolio, which incorporates MotorTrend, Sizzling Rod, Roadkill and Vehicle, “embodies automobile tradition from electrical autos to timeless basic customs,” in line with the businesses. The group’s manufacturers attain greater than 30 million customers per thirty days and its occasions enterprise attracts roughly 500,000 automobile fanatics yearly to experiences equivalent to Sizzling Rod Drag Week, Roadkill Nights and the Japanese Automotive Invitational at Pebble Seashore.
In 2017, Discovery Communications — which later acquired WarnerMedia to kind WBD — purchased a majority stake in TEN: The Fanatic Community. Discovery mixed its Velocity TV community with the digital and live-event companies of TEN’s 20-plus automotive manufacturers together with MotorTrend and Sizzling Rod.
Earlier this yr, WBD shut down the MotorTrend+ subscription streaming service after content material from the service was migrated to Discovery+ and Max (and MotorTrend+ subscribers had been converted to Discovery+’s ad-free plan).
“The acquisition of MotorTrend represents a strategic funding in our enterprise — one that allows us to broaden our digital choices, attain a good broader and extra numerous neighborhood of car fanatics and produce essentially the most revolutionary alternatives to the market,” Debi Chirichella, president of Hearst Magazines, mentioned in a press release. “We stay up for welcoming MotorTrend Group to our Hearst household as we proceed to drive long-term development throughout the enterprise.”
Alex Wellen, CEO and president of MotorTrend Group, commented: “Over the previous 75 years, we’ve grown MotorTrend into some of the influential automotive multimedia firms on this planet, reaching lots of of hundreds of thousands of automobile fanatics throughout all platforms. Becoming a member of Hearst, a enterprise I’ve lengthy admired, will make sure that our beloved assortment of manufacturers proceed to serve and entertain automotive followers for years to return.”
The MotorTrend manufacturers will proceed to function out of workplaces in El Segundo, Calif., and Detroit.
