December 12, 2024
(press release)
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— Hearst Magazines today announced the acquisition of MotorTrend Group, a Warner Bros. Discovery business, comprised of MotorTrend and a diversified portfolio of automotive digital, direct-to-consumer, social, print and live-event brands. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Debi Chirichella, president of Hearst Magazines; and Alex Wellen, CEO and president of MotorTrend Group, whose auto-focused brands include MotorTrend, Hot Rod, Roadkill, Automobile, among others. Terms were not disclosed. MotorTrend Group will expand Hearst’s collection of brands for car enthusiasts and buyers providing even more up-to-the-minute content, commerce and community. MotorTrend Group’s vast portfolio embodies car culture from electric vehicles to timeless classic customs, reaching over 30 million users every month. Its robust events business draws approximately 500,000 passionate enthusiasts every year to iconic experiences such as HOT ROD Drag Week, Roadkill Nights and the Japanese Automotive Invitational at Pebble Beach. “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,” Chirichella said. “We look forward to welcoming MotorTrend Group to our Hearst family as we continue to drive long-term growth across the business.” Wellen said of the acquisition: “Over the past 75 years, we have grown MotorTrend into one of the most influential automotive multi-media companies in the world, reaching hundreds of millions of car enthusiasts across all platforms. 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.” The MotorTrend brands will continue to operate out of offices in El Segundo, CA, and Detroit, MI. Hearst Magazines, the world’s largest lifestyle publisher, has a portfolio of more than 25 powerful brands in the U.S. that inspire and entertain audiences across all media platforms. Hearst Magazines’ print and digital assets reach 140 million readers and site visitors each month — 52% of all millennials and 56% of all Gen Z adults over the age of 18 (Source: 2024 Comscore Multi-Platform© MRI-Simmons - 07/24/S24). The company publishes more than 200 magazine editions and 175 websites around the world.
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