Engine Media Holdings sells motorsports assets
By Adnews Staff
Engine Media Holdings of Toronto, a company specializing in competitive video gaming media, has sold it non-gaming media properties to Ideas & Cars Holdings, an investment company based in the UK. These include motorsport-themed properties Ideas&Cars, The Race Media, WTF1 and Driver DataBase. In addition, Engine Media will now operate with Lou Schwartz as its sole CEO. Darren Cox, former co-CEO with responsible for the motorsports assets, will remain a member of the company’s board of directors until the end of the year. Tom Rogers will remain executive chairman. Engine will maintain a series of licensing deals for the use of the motorsports assets to collaborate on sales and marketing.
“Torque Esports assets that folded into Engine Media as part of the three-way merger with Winview Games and Frankly Media are critical elements of the combined company,” said Rogers. “The other auto related businesses being sold are not focused on gaming, but instead are developing esport and traditional sport racing audiences with the creation and production of auto racing content.”