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Liberty Media announce deal to buy Formula 1
Liberty Media have confirmed that it has agreed a deal to takeover Formula 1 for 4.4bn US dollars (£3.3bn). The US firm released a statement declaring that they are buying 100 per cent of the shares of Delta Topco, who are the parent company of Formula 1, from CVC Capital Partners. Liberty Media, who are an American entertainment and media giant, will make Chase Carey – current vice-chairman of 21st Century Fox – the new chairman, while Bernie Ecclestone will stay on as chief executive. The deal brings to an end years of speculation around the ownership of the racing business. 'After completion of the acquisition, Liberty Media will own Formula 1 and it will be attributed...
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