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Play Sports Group Announces Investment From Eurosport Owner Discovery

Play Sports Group, the digital media company behind cycling brands Global Cycling Network and Global Mountain Bike Network, announced that Discovery Communications led an investment round, taking a 20% stake in Play Sports Group and a seat on its board. In January, Play Sports Group reached more than 20 million cycling fans with content posted across its YouTube channel and its Facebook, Instagram and Snapchat profiles. Eurosport is the leading rights holder in cycling, showing all three of the Grand Tours, including the Tour de France and all five Monuments. This investment and commercial partnership will allow Play Sports Group to rapidly scale its business. The company will launch further channels in cycling and across other sports, hiring up to 150 people for newly-created digital and creative roles over the next two years -- predominantly based at its HQ in Bath, U.K., as well as a small number based in new int'l offices. This round of funding was supported by Discovery investors including Chair Andrew Croker, non-exec Dir Oli Slipper, John Gleasure and Stef D’Anna (Perform), Tony Ball (formerly of Sky and BT), Paul Bolwell (formerly of Wiggle) and Humphrey Cobbold (Pure Gym). Eurosport Digital Managing Dir Ralph Rivera and Senior VP, Business Development Sameer Pabari will join the new exec board (Discovery).

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