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Formula One (F1) CVC Capital

Liberty Global in pole position for Formula 1 purchase

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By John Glenday, Reporter

February 4, 2014 | 1 min read

Liberty Global, the media empire run by John Malone, is reportedly in the early stages of negotiation to buy a 49 per cent stake in Formula 1 racing – potentially valuing the sport at £6.5bn.

The deal would see the conglomerate, which already owns Virgin Media and Discovery Communications, acquire the 35 per cent stake owned by private equity firm CVC Capital (which includes all voting rights) alongside a further 14 per cent, possibly from the Lehman Brothers estate.

Any successful move for the motorsport would represent a bitter blow to Malone’s rival, Rupert Murdoch, who mounted a failed bid for the event back in 2011.

BSkyB currently own the television rights to the sport after snatching them from the BBC that year and air a dedicated F1 channel that is regarded as one of the jewels in the crown of its pay TV business.

BSkyB has seen its pay TV sports rights monopoly challenged in recent years by BT, which has secured the right to Premier League and Champions League matches.

Formula One (F1) CVC Capital

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