from former owners Providence Equity Partners. Ironman had been in the hands of Providence for seven successful years after they purchased it in 2008. A source for the Wall Street Journal estimated that the WTC is valued at roughly $900 million and represents a quadrupling of Providence's investment in the WTC. A Wanda Group press release stated that the World Triathlon Corporation's gross revenue has risen at a compounded average growth rate of 40% for four years straight. Net profit has grown at 40% a year. Wanda Group has announced plans to bring Ironman races to China in the future, citing the events have been hosted in over 20 countries worldwide but none yet in China. This was inspired by the success of other Ironman races in Asia, like those in Taiwan, Korea, and Japan. Dalian Wanda acquired Competitor Group (operator of the Rock 'n' Roll Marathon Series) in 2017; it became a subsidiary of the Ironman Group. Advance (2020–) On March 26, 2020, Advance Publications announced that it will acquire The Ironman group from the Dalian Wanda Group, with Orkila as a co-investor in the company. As part of the deal, Wanda will continue to operate the events in China under a license agreement. On July 21, 2020, the sale was completed. Event acquisitions In addition to the North American Sports acquisition in 2009 WTC has acquired several other event management companies and races. In February 2012 WTC purchased USM Events, owners of Australian triathlons in Geelong, Mooloolaba, and Noosa, as well as the Sydney World Triathlon Series (WTS) race. USM Events also owned and produced a full Ironman distance race in Cairns, Australia called Challenge Cairns. Challenge, a rival to the Ironman brand, did not wish to have WTC running one of the Challenge family of races. As a result, Challenge terminated its contract with USM and Challenge Cairns subsequently became Ironman Cairns. The purchase of USM Events expands WTC's Asia-Pacific triathlon market. The purchase would have placed WTC into International Triathlon Union racing with the Sydney WTS race, but government officials in New South Wales took the option of not extending an agreement to continue staging the Sydney event due to the ongoing logistical and financial investment required. In June 2013, WTC purchased YWC Sports, a private company that organizes triathlons and endurance sport events in Denmark. YWC Sports was contracted by the Challenge Family to produce