New York-based powersport financial lending company, Octane Lending announced the purchase of Bonnier Motorcycle Group from parent company, Bonnier Corporation.
The sale includes classic motorcycle magazine titles Motorcyclist, Cycle World, and Dirt Rider. Also part of the transaction are Motorcycle Cruiser and Cycle Volta (epedal bicycle-specific web portal). Dominant digital properties ATV Rider and UTV Driver are involved as well.
“We are acquiring these titles because we want to support brands that get people excited about powersports,” Jason Guss, CEO of Octane, says in a press release. “Our goal for this acquisition is to ensure that unbiased product reviews, rigorous and objective testing, and informed storytelling will continue to be available to powersports enthusiasts. When combined with Octane’s financing platform and dealership partners, consumers will soon be able to go directly from researching their dream vehicle to owning it, in a fast, seamless process.”
Related: Motorcycle Reviews And Comparisons
Established in 2014, Octane Lending specializes in automated prequalification technology that enables powersport riders to purchase ATVs, motorcycles, PWCs, UTVs, and snowmobiles more easily than traditional banking strategies.
Bonnier’s existing Editorial Director Mark Hoyer continues to lead the creative team and direct content efforts in a fully digital realm. This includes web domains with more than two million monthly readers and nearly one million combined YouTube subscribers. The MotorcyclistMag YouTube channel has amassed over 800,000 engaged viewers. Octane Lending now boasts a substantial social media presence in excess of two million Facebook followers and nearly 500,000 Instagram followers.
“Since acquiring Cycle World in 2011, Bonnier has invested in best-in-class motorcycle content across all media channels, and it is gratifying to see that Octane recognizes and values the consumer trust that these brands enjoy,” says newly named Bonnier Corp CEO David Ritchie. “We are encouraged by their commitment to content and look forward to seeing these brands continue to grow.”
Octane also notes Cycle World will wind down its print product after a 58-year run. This follows in the demise of Motorcyclist last summer after a 107-year run on paper. Motorcyclist continues in web, YouTube, podcast, and social media formats.
Cycle World prints its final issue next month and existing print subscribers will receive some form of digital content beginning in 2021.