Independent UK law firm Burges Salmon has advised business founders Simon Wear and Mia Walter on their acquisition of a majority stake in Play Sports Network, the world’s largest cycling media company and community, from entertainment giant Warner Bros. Discovery.
Bath-based Play Sports Network was originally founded in 2013 and was acquired by Warner Bros. Discovery in 2019. The transaction sees Simon and Mia re-assume ownership of the business with Warner Bros. Discovery retaining a minority stake as part of plans to grow the business moving forward.
The Burges Salmon team advising on the deal was led by partner Richard Spink and senior associate Douglas Streatfeild-James from the firm’s Corporate and M&A team, and partner Rachael Ruane from the firm’s Banking and Finance team. Richard comments: “It’s been a pleasure working with Simon and Mia as they re-acquire Play Sports Network, and we wish them the very best success in the future as they work on the long-term development of the business.”
Simon Wear, founder and chair of Play Sports Network, adds: “We’d like to thank the Burges Salmon team for its excellent counsel. We worked extremely well with Richard, Doug and Rachael, whose experience and clarity of advice made a real difference in bringing the deal to fruition.”
Burges Salmon has a strong Corporate practice in the UK advising clients across a broad range of sectors. Much of the firm’s work has an international element, helping overseas clients expand into the UK and supporting UK-based businesses grow internationally.