German media and technology company Wige Media has agreed to sell its 51% share in Sport Media Group to US-based Motorsport Network.
Through the sale, Wige Media will achieve a cash flow of €2.45 million and a profit in its books of around €600,000, the company announced in Cologne.
With Motorsport-Total.com and Formel1.de, Sport Media Group is the market-leading provider of motor sports portals in Germany, Austria and Switzerland.
Wige Media entered Sport Media Group as a shareholder in November 2015.