Discovery has set its sights on the cycling business in Europe after buying a controlling stake in Play Sports Group, which operates linear and digital channels devoted to the sport.
Discovery is in the midst of a push to develop multiplatform assets around distinct programming niches, from cooking and home decorating to golf and other sports. Discovery has taken a 71% stake in the London-based Play Sports Group, following an investment in February 2017 that amounted to 20% of the company.
Play Sports will become a subsidiary of Discovery and headed by Play Sports founder-CEO Simon Wear.
“This is another important step in Discovery’s strategy of being the global leader in brands and products that power people’s passions,” said JB Perrette, president-CEO of Discovery International. “I couldn’t be more excited to partner with Simon, a fantastic entrepreneur, and his terrific team to help turbo charge the expansion and globalization of the Play Sports Group.”
Play Sports operates eight cycling video channels that reach 3.1 million subscribers. It also broadcasts live racing via YouTube and Facebook Watch channels.”
“As a fan-and community-focused business, we could not be more perfectly aligned with Discovery’s deep-rooted history in serving passionate, specialist audiences with super high-quality content,” Wear said.