Friday June 5, 2020

Liberty Media to buy Formula One owner

Bernie Ecclestone to stay on as chief executive

8th September, 2016
Formula One company is sold. Pic: Getty

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...

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