Sept 7 Liberty Media, a U.S. based
media and communications company with interests in Atlanta
Braves baseball team and satellite radio service Sirius XM, said
it would buy the cash-rich sports Formula One Racing for $4.4
U.S. cable TV pioneer John Malone-led Liberty Media will buy
Formula One from a group led by private equity firm CVC Capital
Liberty Media is the world's largest international
television and broadband company, operating in more than 30
countries in Europe, Latin America and the Caribbean through a
series of different brand names.
The deal, which has an enterprise value of $8 billion,
heralds a new era for a European-dominated sport that has long
sought to break into the U.S. market and win fresh audiences.
(Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb