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New Owner Sees Growth For Rock 'N' Roll Marathons In China

The Rock 'n' Roll Marathon series in the U.S. will continue, but "its path to future growth under new ownership goes through China," according to Ben Fischer of SPORTSBUSINESS JOURNAL. World Triathlon Corp. "finally achieved its goal of buying Rock 'n' Roll operator Competitor Group Inc. on June 2, more than a year after lenders seized control of CGI and began looking to sell it." Private equity "may have lost interest in CGI as the American endurance event market stagnates," but WTC CEO Andrew Messick said that it is a "boost in his efforts to build a dominant global position." It is the fourth major deal since Chinese conglomerate Dalian Wanda Group acquired WTC, owner of the Ironman brand, from Providence Equity Partners in '15. Messick said, "Our friends at Wanda view things first and foremost through the prism of China, and I think they believe, as do we, that there is opportunity for a brand like the Rock 'n' Roll marathon brand to become a relevant and powerful consumer brand around mass participation events in China." Once a "juggernaut," the Rock 'n' Roll series "saw its growth slow in recent years along with broader declines in American distance running." The Competitor Group acquisition "focused entirely on the Rock 'n' Roll brand." Messick said that Ironman "has not yet determined the future of CGI's media and technology assets, which include Women’s Running and Triathlete magazines and a suite of online registration tools" (SPORTSBUSINESS JOURNAL, 6/12 issue).

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