Warner Bros. Discovery acquired TEN: The Enthusiast Network, structured as Consolidated joint venture with TEN in which Discovery held a controlling interest (business combination consolidated by Discovery).
TEN: The Enthusiast Network operates in US Networks / automotive media, is based in United States. TEN: The Enthusiast Network was a US automotive and enthusiast media company whose portfolio spanned MotorTrend.com, the Motor Trend YouTube channel and OTT service, and a wide range of automotive digital, social, live-event and original content. Discovery combined its own Velocity network and related digital assets with TEN's portfolio in a consolidated joint venture in which Discovery held a controlling interest, giving it control of the combined business (later rebranded MotorTrend Group). The tie-up created a large multi-platform automotive media company spanning linear, digital and streaming.
Scale Discovery's automotive media franchise by pairing its Velocity network with the leading MotorTrend digital and OTT assets, creating a single controlled automotive media platform across linear, digital, social and streaming.
Advisory firms were not disclosed for this transaction.