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Formula 1 sale to Liberty Media to go ahead next week
A sale of Formula 1 to Liberty Media is to go ahead next week, respected German specialist magazine Auto Motor und Sport reported on Saturday, citing the sport's commercial supremo Bernie Ecclestone. The magazine said Liberty Media would transfer the first tranche of payment in the $8.5 billion deal on Tuesday. Formula One's biggest shareholders are private equity firm CVC Capital Partners with a 35.5 percent stake and U.S. fund manager Waddell & Reed with 20.9 percent. Ecclestone holds 5.3 percent of Formula one and his Bambino Trust has another 8.5 percent. Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses. Those interests are...
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