Founders Reclaim GCN from Warner Bros. Discovery

Simon Wear and Mia Walter, the original founders of Play Sports Network, have heroically (or perhaps masochistically) bought back their brainchild from the corporate labyrinth of Warner Bros. Discovery. This thrilling episode aired on June 12, 2024, and like any good cliffhanger, it comes with the dramatic release of 20 employees.

Let’s rewind. Warner Bros. Discovery, that omnipresent media behemoth, gobbled up a majority stake in Play Sports Network back in 2019. They’d already dipped their toes in the water with a minority share in 2017, but like any good megacorporation, they couldn’t resist diving in headfirst. Fast forward to 2024, and Warner Bros. Discovery has decided to offload Play Sports Network, like a bored child discarding last season’s toy, while conveniently keeping a minority stake and, more importantly, the juicy television rights to cycling events. Those precious broadcasts, once the lifeblood of GCN+, will now grace Warner Bros. Discovery’s own platforms—Eurosport, Discovery+, and Max. It’s almost as if they realized they prefer raking in the cash without the hassle of actually running a cycling network.

Meanwhile, GCN soldiers on, heroically producing articles and feature videos for its loyal followers on its website, YouTube channel, and various social media outlets. At the helm are Mia Walter, the returning CEO, and Simon Wear, the executive chairman. Together, they’re stepping back into roles they never really left, like characters in a sitcom reboot no one asked for but everyone ends up watching anyway.

Of course, Warner Bros. Discovery’s press release on this transaction is harder to find than an honest politician, but SportsBusiness.com managed to scoop up some juicy tidbits. Warner Bros. Discovery is sticking to its grand plan of monopolizing live cycling coverage through its streaming services and linear television. They boast about offering “the widest range of men’s and women’s races anywhere,” which sounds impressive until you remember they’re just shifting their own content from one platform to another, like a magician trying to convince you he’s pulled a rabbit out of a hat when really it’s just a slightly different hat.

Now, with Wear and Walter back in charge, Play Sports Network is supposed to continue delivering digital cycling content across all the usual platforms. Warner Bros. Discovery, while clutching onto their minority stake, will nobly “work with Play Sports Network’s leadership on the long-term development of the business.” In plain English, they’ll keep a close eye on their investment while letting Wear and Walter do all the heavy lifting.

But let’s not forget the real victims here—the 20 employees who’ve been unceremoniously kicked to the curb in this grand corporate shuffle. It’s a stark reminder that in the ruthless world of business, even the most dedicated cycling content creators aren’t immune to the swinging axe of corporate restructuring.

So here we are. The prodigal founders have returned, Warner Bros. Discovery is still holding a piece of the pie, and GCN rolls on, albeit with a few less hands on deck. It’s a corporate soap opera as cyclical as the sport it covers, complete with high-stakes drama, strategic maneuvering, and a handful of casualties left in the wake. Buckle up, folks—this ride is far from over.