Warner Bros Discovery (WBD) has sold MotorTrend Group to Hearst Magazines, which will acquire a portfolio of automotive-focused consumer magazines, streaming video channels and live events
The purchase includes the flagship MotorTrend magazine as well as Hot Rod, Roadkill, Automobile and others, as well as the free, ad-supported streaming TV (FAST) channel MotorTrend FAST TV.
Financial terms of the deal were not disclosed. Hearst said MotorTrend Group will continue to operate out of offices in Detroit and Southern California.
“The acquisition of MotorTrend represents a strategic investment in our business — one that enables us to expand our digital offerings, reach an even broader and more diverse community of automobile enthusiasts and bring the most innovative opportunities to the market,” said Debi Chirichella, the President of Hearst Magazines. “We look forward to welcoming MotorTrend Group to our Hearst family as we continue to drive long-term growth across the business.”
“Over the past 75 years, we have grown MotorTrend into one of the most influential automotive multimedia companies in the world, reaching hundreds of millions of car enthusiasts across all platforms,” Alex Wellen, the CEO and President of MotorTrend Group, said in a statement. “Joining Hearst, a business I’ve long admired, will ensure that our beloved collection of brands continue to serve and entertain automotive fans for years to come.”
Hearst Magazines is part of Hearst Corporation, which includes other businesses like Hearst Broadcasting, Hearst Newspapers, Fitch Group, First Databank, A+E Networks and ESPN.
