Travel media company Lonely Planet has announced the acquisition of a strategic stake in media house Teton Gravity Research – a publisher with interests in the mountain biking market.
The investment comes as TGR has doubled in size in recent years becoming one of the top media houses in the action sports and outdoor industries.
“TGR was founded in 1996 to capture the passion and enthusiasm associated with action sports and adventure,” says Steve Jones, TGR co-founder. “Our mission has always been to inspire. We’ve admired the Lonely Planet brand for years, and as we got to know their team through an appreciation of our culture, we saw an opportunity to share resources, build on our respective strengths, and collaborate on new media with aligned strategic objectives.”
TGR currently has multiple films in production and development phases across a variety of action sports. The publisher has also recently been handed awards for two of its productions.
“TGR’s resources provide a fantastic expansion of our rapidly growing efforts in video and our digital ecosystem,” adds Daniel Houghton, Lonely Planet CEO. “Synergies between adventure travel and high-end media content will expand the reach of both the Lonely Planet and TGR brands.”
TGR co-founders, brothers Steve and Todd Jones, will retain their ownership interest and continue to lead TGR as co-CEOs in the company’s Jackson Hole home.