Motorsport Network buys Haymarket motorsport brands including Autosport

Haymarket Media Group has agreed to sell its motorsport brands - including Autosport, F1 Racing, Motorsport News and the LAT photographic agency - to Motorsport Network, the specialist online US motor racing content and events company

Motorsport Network buys Haymarket motorsport brands including Autosport

The sale means Motorsport Network, the Miami-based owner of Motorsport.com, will also acquire the Autosport International show and Autosport Awards, with the intention to develop the brands from Haymarket's motorsport division as part of its global motorsport media franchise.

Zak Brown, chairman of Motorsport Network said: "This milestone in acquiring the businesses that Haymarket has grown over decades will be recognised by everyone in the industry as a mark of our intent.

"All that is best about Autosport and its sister businesses will be preserved.

"Supported with investment and aligned with our dynamic organisational culture and high-speed growth that is attracting younger demographics to motorsport, the fusion of these two organisations presents tantalising opportunities for our staff and our clients alike.

"This acquisition is part of a broader consolidation strategy and is aligned with a series of significant changes we're witnessing across the motorsport landscape."

As part of the change of ownership, around 70 Haymarket employees will transfer with the motorsport titles to the new owners.

Autosport Editor-in-Chief Edd Straw said: "Autosport has thrived during its years with Haymarket Media Group, with the magazine, website, Autosport Awards and Autosport International establishing themselves as key parts of the motorsport landscape alongside our sister titles.

"Now it is time for the next phase of Autosport's development, and we are very excited to become part of Motorsport Network at a time of great change in the whole industry.

"As it has been ever since Autosport was launched in 1950, our priority will always be to provide engaging, insightful, entertaining and innovative content that upholds the ethos of a brand that is loved.

"As well as continuing to do that, we are looking forward to finding new ways to deliver such content in a rapidly-evolving media landscape.

"The future of Autosport has never been brighter."

Haymarket Media Group CEO Kevin Costello added: "Motor racing has formed part of the Haymarket portfolio for almost half a century and the company has nurtured these businesses from their origins to be global category leaders.

"However, we are reassured that the Motorsport Network are the right people to be custodians of these businesses for the next stage of their investment and development."

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