US media firm Liberty Media to buy Formula 1

  1. Welcome to GM Inside News Forum – General discussion forum for GM

    Welcome to GM Inside News Forum - a website dedicated to all things GM.

    You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, Join GM Inside News Forum today!
     
Results 1 to 12 of 12

Thread: US media firm Liberty Media to buy Formula 1

  1. #1
    GMI Staff Member Premium Member nadepalma's Avatar
    Join Date
    Jan 2003
    Location
    New Jersey
    Posts
    10,842
    Thanks
    406
    Thanked 2,115 Times in 1,032 Posts
    My Ride
    2007 Ford Fusion

    US media firm Liberty Media to buy Formula 1

    US media firm Liberty Media to buy Formula 1
    8 September 2016
    BBC.com

    US firm Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn (£3.3bn).

    The move ends years of speculation about the ownership of the company.

    Bernie Ecclestone will remain as chief executive but Chase Carey, vice-chairman of 21st Century Fox, will become the new chairman.

    Liberty Media has stakes in several sports and entertainment businesses, including the Atlanta Braves Major League Baseball club.

    Owned by the billionaire John Malone, Liberty will initially purchase a minority stake in the world's leading motor-racing championship. A full takeover is planned if regulators approve the deal.

    The total transaction values the firm at $8bn but includes $4.1bn worth of F1's debt.

    CONTINUE AT LINK ABOVE

    * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

    RELATED:

    Liberty Media: Who are Formula 1's new owners?
    By Tim Bowler, Business reporter
    8 September 2016
    BBC News

    The acquisition by the US media conglomerate Liberty Media of the Formula 1 racing business for $4.4bn (£3.3bn) opens a new chapter for the motor sport.

    The announcement may have ended the long-running saga over the future of the business, but it also raises some fresh questions.

    Some wonder if it will speed up the eventual exit of Formula 1 supremo Bernie Ecclestone. Under the terms of the deal he remains as chief executive but he has run the sport for nearly 40 years and is now 85.

    The new chairman of Formula 1 will be the elaborately moustachioed Chase Carey, the executive vice chairman of Rupert Murdoch's 21st Century Fox.

    "I see great opportunity to help Formula 1 continue to develop and prosper for the benefit of the sport, fans, teams and investors alike," said Mr Carey on the announcement of the deal.

    CONTINUE AT LINK ABOVE


    * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

    RELATED:

    Bernie Ecclestone: Formula 1 boss 'to stay for three more years' after takeover
    7 September 2016
    BBC Sports

    Formula 1 boss Bernie Ecclestone says he has been asked to stay on for three years, on the day a takeover of the sport was agreed by Liberty Media.

    The US-based company has agreed a deal to take control of F1 from private equity group CVC Capital Partners.

    It said Ecclestone will remain as chief executive but Chase Carey, vice-chairman of 21st Century Fox, will become the new chairman.

    F1 commercial supremo Ecclestone, 85, has run the sport for 40 years.

    CONTINUE AT LINK ABOVE
    Last edited by nadepalma; 09-09-2016 at 03:11 PM.
    "La vita è come un albero di Natale..c'è sempre qualcuno che ti rompe le palle!"

  2. Remove Advertisements
    GM Inside News
    Advertisements
     

  3. #2
    4.6 Liter Northstar V8 91fairladyZ's Avatar
    Join Date
    Jan 2003
    Location
    Richmond, VA
    Posts
    1,834
    Thanks
    689
    Thanked 735 Times in 363 Posts
    My Ride
    2007 GMC Acadia SLT2 Silver

    Re: US media firm Liberty Media to buy Formula 1

    Read this yesterday. It will be interesting what they can do to raise the profile of F1 in the US.

  4. #3
    6.2 Liter LS9 Supercharged V8
    Join Date
    Aug 2009
    Location
    England
    Posts
    7,778
    Thanks
    752
    Thanked 2,551 Times in 1,924 Posts
    My Ride
    VW Touareg 3.0 V6 TDI

    Re: US media firm Liberty Media to buy Formula 1


  5. Remove Advertisements
    GM Inside News
    Advertisements
     

  6. #4
    Chevrolet VOLT
    Join Date
    Feb 2005
    Location
    Dandenong (Melbourne) Australia
    Posts
    10,388
    Thanks
    1,154
    Thanked 863 Times in 620 Posts
    My Ride
    1999 Ford Fairmont Wagon

    Re: US media firm Liberty Media to buy Formula 1

    Repost

  7. #5
    6.0 Liter L76 V8 kool1's Avatar
    Join Date
    Jul 2016
    Location
    Toronto
    Posts
    2,159
    Thanks
    6
    Thanked 1,478 Times in 787 Posts
    My Ride
    17 Cadillac XT5 - 16 Traverse

    Re: US media firm Liberty Media to buy Formula 1

    I would love to see more F1 in north america. Doubt it will happen though, at least not in the near future.

  8. #6
    2.4 Liter SIDI ECOTEC redriderjf87's Avatar
    Join Date
    Jul 2016
    Location
    Quad Cities, IL
    Posts
    168
    Thanks
    139
    Thanked 67 Times in 42 Posts
    My Ride
    1981 Camaro Z-28

    Re: US media firm Liberty Media to buy Formula 1

    Can't hurt, I've lost interest in F1 in the past couple years at its current state. Too many gimmicks, forced equality and the cars don't look or sound as cool as they used to.

    Would be nice to get Eccelstone out, I'm sure that won't happen for a bit.

  9. The Following User Says Thank You to redriderjf87 For This Useful Post:

    mbukukanyau (09-11-2016)

  10. #7
    R2-D2 Astromech Droid Premium Member mbukukanyau's Avatar
    Join Date
    Dec 2003
    Location
    Carlsbad Commiefornia
    Posts
    31,635
    Thanks
    5,893
    Thanked 8,308 Times in 4,035 Posts
    My Ride
    2013 Traverse | 2018 Fusion

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by redriderjf87 View Post
    Can't hurt, I've lost interest in F1 in the past couple years at its current state. Too many gimmicks, forced equality and the cars don't look or sound as cool as they used to.

    Would be nice to get Eccelstone out, I'm sure that won't happen for a bit.
    He will be kicked out by the Americans. Its only one Quarter of bad numbers and he will be toast

  11. #8
    Chevrolet VOLT
    Join Date
    Feb 2005
    Location
    Dandenong (Melbourne) Australia
    Posts
    10,388
    Thanks
    1,154
    Thanked 863 Times in 620 Posts
    My Ride
    1999 Ford Fairmont Wagon

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by mbukukanyau View Post
    He will be kicked out by the Americans. Its only one Quarter of bad numbers and he will be toast
    Bernie will have made sure that if he does get kicked out it will cost them a bundle.

  12. #9
    R2-D2 Astromech Droid Premium Member mbukukanyau's Avatar
    Join Date
    Dec 2003
    Location
    Carlsbad Commiefornia
    Posts
    31,635
    Thanks
    5,893
    Thanked 8,308 Times in 4,035 Posts
    My Ride
    2013 Traverse | 2018 Fusion

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by chinamonty View Post
    Bernie will have made sure that if he does get kicked out it will cost them a bundle.
    Ever Heard if the US legal system? He will get kicked out. He tries his shenanigans and he will be out.

  13. The Following User Says Thank You to mbukukanyau For This Useful Post:

    redriderjf87 (09-12-2016)

  14. #10
    6.2 Liter LS9 Supercharged V8
    Join Date
    Aug 2009
    Location
    England
    Posts
    7,778
    Thanks
    752
    Thanked 2,551 Times in 1,924 Posts
    My Ride
    VW Touareg 3.0 V6 TDI

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by chinamonty View Post
    Bernie will have made sure that if he does get kicked out it will cost them a bundle.
    He'll have already made his "bundle" letting Liberty Media in - and he's made a few "bundles" on the way - he's worth 3.1 billion USD, starting from nothing.

  15. #11
    Chevrolet VOLT
    Join Date
    Feb 2005
    Location
    Dandenong (Melbourne) Australia
    Posts
    10,388
    Thanks
    1,154
    Thanked 863 Times in 620 Posts
    My Ride
    1999 Ford Fairmont Wagon

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by mbukukanyau View Post
    Ever Heard if the US legal system? He will get kicked out. He tries his shenanigans and he will be out.
    Ever heard of contracts not using US law. I would be surprised if clauses have not been included to cover premature departure, not that he needs the money.

  16. #12
    R2-D2 Astromech Droid Premium Member mbukukanyau's Avatar
    Join Date
    Dec 2003
    Location
    Carlsbad Commiefornia
    Posts
    31,635
    Thanks
    5,893
    Thanked 8,308 Times in 4,035 Posts
    My Ride
    2013 Traverse | 2018 Fusion

    Re: US media firm Liberty Media to buy Formula 1

    Quote Originally Posted by chinamonty View Post
    Ever heard of contracts not using US law. I would be surprised if clauses have not been included to cover premature departure, not that he needs the money.
    Yup, as long as he does not try one of his silly stunts. He probably wishes he never sold already.

  17. Remove Advertisements
    GM Inside News
    Advertisements
     

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.1.2