Rupert Murdoch eyes F1 takeover
Rupert Murdoch is looking to further expand his media empire after collaborating with Mexican billionaire Carlos Slim on an audacious bid to take control of Formula 1 racing.
News Corp views the motor racing event as an attractive proposition, it being one of the few sports which the media giant as yet where it lacks a foothold.
It would also set precedent as the first time a media group has taken over an entire sport.
Sky News reported that the putative bid was as yet still in the earliest stages and no contact has yet been broached with the sports current owners, CVC Capital Partners, who shelled out $2.5bn for the sport in 2005.
The BBC currently pays £40m a year for the sole broadcasting rights to the event in the UK on a contract running to 2014.