Liberty Media saw a rise in Formula 1’s revenue from broadcast partners and sponsorship agreements through 2017, but the sport made a total loss of $37 million across the year. Liberty completed its takeover of F1 back in January 2017, with Chase Carey taking over as the series’ CEO and chairman from long-standing ringmaster Bernie Ecclestone. F1 has embarked on a number of new expansion plans, including the setup of a new office base in central London, undertaking a recruitment drive and creating a new broadcast service, F1 TV, which was announced earlier this week. In its year-end financial results for 2017, Liberty reported a one percent fall in F1’s total revenue to $1.784...
Full Story »