GCN Sold
Warner Bros. Discovery today announced it has sold a majority stake in Play Sports Network (PSN), the parent company of Global Cycling Network (GCN), back to its founder Simon Wear and CEO Mia Walter. Warner Bros. Discovery retains a minority stake in Play Sports Network (PSN:GCN). The author understands that Warner Bros. discovery made a significant write-down (loss) on its investment – conversely Wear and Walter may have got a good deal.
Discovery first invested in Play Sports Network in 2017 and became a majority shareholder in 2019. 2 years later the company was acquired outright with a valuation of £70 million. The corporate unravelling first became apparent when the streaming service, GCN+ covered professional cycling closed at the end of 2023 with the rights it owned moving to Eurosport, Discovery+, and Max. A few months before that, it was reported that GCN was for sale.
What next?
GCN/Play Sports Network will continue to deliver digital content across YouTube. (Phew)
Warner Bros. Discovery will continue to offer live cycling coverage through Eurosport and other streaming services it owns.
EscapeCollective expects 20 redundancies.
Last Updated on 28 January 2026 by the5krunner
Reader-Powered Content
This content is not sponsored. It’s mostly me behind the labour of love, which is this site, and I appreciate everyone who supports it.
Support the site: Follow (free, fewer ads) · Subscribe (paid, ad-free) · Buy Me A Coffee ❤️
All articles are written by real people, fact-checked, and verified for originality. See the Editorial Policy. FTC: Affiliate Disclosure — some links pay commission. As an Amazon Associate, I earn from qualifying purchases.
tfk is the founder and author of the5krunner, an independent endurance sports technology publication. With 20 years of hands-on testing of GPS watches and wearables, and competing in triathlons at an international age-group level, tfk provides in-depth expert analysis of fitness technology for serious athletes and endurance sport competitors.
