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by Shane Stokes
October 14, 2017
Ulissi wins stage 4 of the Presidential Tour of Turkey; Yates wins final stage of the Tour of Iran; Lappartient plans to ban use of corticoids from early 2019; INRNG on the Nudge Theory and Tramadol; Archbold signs for Aqua Blue Sport; Dombrowski to rethink approach after disappointing season; Williams re-signs with Orica-Scott; Twenty20 announces first new signee in Clyne; WaowDeals Pro Cycling signs Van De Ree and Rooijakkers; VeloNews bought by previous owner Felix Magowan plus partners; See.Sense enjoys more crowdfunding success for its next intelligent light; Battle Mountain set for community screenings release; Video: Two lives saved by one bicycle; Video: Bringing the family along for the ride.
Former VeloNews owner Felix Magowan has required control of it plus Triathlete and other media titles, combing with Space News CEO Greg Thomas and investment adviser Steve Maxell to purchase them from the World Triathlon Corporation.
Thomas was previously an executive with VeloNews while Maxwell, co-editor of The Outer Line, is an occasional contributor to it. Also part of the sale is book publishing enterprise VeloPress, and Women’s Running.
“These are great, well-respected brands that are best read within their sport,” Magowan said to Bike Retailer and Industry News on Friday. “Despite the well-known challenges in print today, our team is thrilled to have the chance to rebuild these iconic titles as well as their sister digital operations. We have ambitious growth plans, and want to restore these brands to their historical industry leadership positions as quickly as possible.”
WTC bought previous magazine owner Competitor Group last June. VeloNews was launched as Northeast Cycling back in 1972, and later purchased by Magowan, John Wilcockson and David Walls in 1988. Twenty years later they sold their Inside Communications company to Competitor Group, along with the magazine.
Magowan is now back at the helm and will take over as CEO. According to BRAIN, he will ‘focus on re-establishing brand recognition for the titles as well as re-energizing flagging advertising and sales.’ Thomas will act as COO while Maxwell will oversee strategic and corporate development. It will remain based in Boulder, Colorado. Meanwhile Bicycling magazine may also be changing hands after a tentative agreement was reached between owners Rodale and Hearst, a major publisher of consumer magazines and websites. The deal is subject to a review by the Justice Department in relation to anti-trust laws.
Click through to read the full story on Bicycle Retailer and Industry News.