Liberty Media to buy Formula One owner

John Malone’s Liberty Media has agreed to buy the company that controls Formula One from private equity firm CVC Capital Partners for $4.4 billion in cash, stock and convertible debt, giving the US cable television entrepreneur ownership of the dominant international auto-racing circuit.

Liberty is acquiring an 18.7 per cent stake in Formula 1 parent Delta Topco right away and will take full ownership later, according to a statement last night. Delta Topco ...