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Discovery takes 20% stake in Play Sports Group

Play_Sports_Group_GCNshotDiscovery has led an investment round in cycling-focused digital sports media company, Play Sports Group, taking a 20% stake of the business and a seat on its board.

With the deal, Play Sports will deliver digital content to complement Discovery-owned Eurosport’s coverage of European cycling, as part of a partnership arrangement between the two firms.

Play Sports Group owns the Global Cycling Network (GCN) and Global Mountain Bike Network (GMBN) brands and claims to reach more than 20 million cycling fans with content posted across its YouTube channel and its Facebook, Instagram and Snapchat accounts.

The company, which was founded four years ago by ex-Future chief operating officer, Simon Wear, said that investment and commercial partnership with Eurosport will enable Play Sports Group to rapidly scale its business.

“I’m delighted to have Discovery Communications and its leading sports brand Eurosport join our incredible list of investors and advisors,” said Wear.

“It’s extremely clear how determined and smart they are in the development of their digital business, and we’re really looking forward to working with the team.”

Eurosport CEO, Petter Hutton, said: “Working with a digital media company that is squarely focused on cycling is an excellent proposition for Eurosport to align with, and it’s another example of how we’re nurturing sports communities and making sure viewers have access to their favourite sports content whenever and wherever they choose to access it.”

Hutton said the deal “turns up the volume” on Eurosport’s digital business, which also includes Eurosport Player and sports news site Eurosport.com.