Liberty Media to buy Formula 1 fir $4.4 Billion
 

Re: Liberty Media buy F1
 

John Malone's empire keeps expanding...... not bad for an old geezer. Always helps that he uses a combination of debt and other people's money to fund his ventures.

Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn (£3
 

US firm Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn (£3.3bn).


More details here:-


http://www.bbc.co.uk/news/business-37303230

Re: Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn
 

Technically this isn't Virgin Media news, as Liberty Media is a separate company to Liberty Global who are the owners of Virgin Media.

Re: Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn
 

I think that will be good for the sport as Liberty Media has the skills to modernise F1 in a digital world whereas its previous owners just used it to generate cash. As to TV rights, I assume it will still be a case of bidding so no favourtism for Eurosport. But I suspect Liberty might be keener for some races to remain on a FTA channel than its previous owners were as it is investing in the sport long term.

Re: Liberty Media to buy Formula 1
 

Re: Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn
 

Thanks for clarifying it.

Re: Liberty Media to buy Formula 1 fir $4.4 Billion
 

Wait so Liberty Media, which is owned by John Malone, have bought F1 and the person who they've brought in as Chairman of F1 is Chase Carey who was Rupert Murdoch's right hand man and is the current vice chairman of 21st Century Fox?

Isn't that a bit odd?

Re: Liberty Media to buy Formula 1 fir $4.4 Billion
 

I'm one of those massively on the fence. Better the devil you know, posted that in the F1 thread.

Re: Liberty Media to buy Formula 1 fir $4.4 Billion
 

No different than the CEO of Virgin Media working for different Rupert Murdoch companies for 20 odd years before he joined Virgin Media.