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Liberty takeover offers a solid long term vision for F1
Liberty Media's takeover of Formula One promises a long-term strategy for the cash-rich sport with a sharper focus on new media markets and another attempt to expand in North America. The deal, valued at $8 billion including debt, gives an American media and telecoms business effective control of a sport rather than the more customary situation of such companies paying up to buy rights to screen live events. The deal was seen as positive for a sport featuring famous car brands such as Ferrari and Mercedes, as well as for buyer Liberty Media, owned by U.S. cable TV mogul John Malone. However, changes will take time to feed through given that Formula One Chief Executive Bernie Ecclestone has...
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8y ago from GrandPrix247.com
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