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Liberty Media in $4.4billion takeover of Formula 1
Liberty Media, a United States-based firm headed by media tycoon John Malone, have confirmed that they are in the process of purchasing Formula 1 in a deal said to be worth in excess of $4.4billion. The deal will see CVC Capital Partners, who have owned the championship since 2005, remain with a percentage of the Liberty Media Group shares, but will not have any control of voting shares. Liberty Media already have sporting interests in the United States with the Atlanta Braves baseball team and in satellite radio in the form of Sirius XM, and the first portion of the deal to take over Formula 1 will gain them an 18.7 percent stake, while the rest to be handed over when the deal gets closed...
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10y ago from TheCheckeredFlag.co.uk
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