Nearly ten years after selling VeloNews, previous co-owner Felix Magowan of Pocket Outdoor Media has purchased it and sister title Triathlete back from The World Triathlon Corporation.
Finalised on Thursday last week, the acquisition by Magowan was backed by former executive at VeloNews Greg Thomas and Steve Maxwell, an investments expert in the water industry, as well as co-editor of The Outer Line.
Also included in the sale are Boulder-based book publishing house VeloPress , as well as San Diego-based Women’s Running.
“We are not private equity buyers. My partners and I see ourselves as long-term investors, and our goal is to improve the product across all platforms,” Magowan said of the deal. “We have ambitious growth plans, and want to restore these brands to their historical industry leadership positions as quickly as possible.”
Details of the value of the deal have not been released, though Magowan will take on the CEO position.