Your forum username:
Do you already have an account?
Forgot your password?
  • Log in or Sign up


    Welcome to Sky User - The Unofficial Support Forum for everything Sky! - Proudly helping over 65k members.


    Advertisement

    Results 1 to 3 of 3

    US media firm Liberty Media to buy Formula 1

    This is a discussion on US media firm Liberty Media to buy Formula 1 within the Entertainment forums, part of the Community channel category; US media firm Liberty Media to buy Formula 1 - BBC News US firm Liberty Media has confirmed it is ...

    1. #1
      Scubbie's Avatar
      Scubbie is offline Sky User Moderator
      Exchange: 02392
      Broadband ISP: Sky Fibre Unlimited
      Router: Sky Q Hub ER110
      Sky TV: Sky+HD box
      Join Date
      Mar 2010
      Location
      Near Portsmouth
      Posts
      28,200
      Thanks
      842
      Thanked 2,223 Times in 2,092 Posts

      US media firm Liberty Media to buy Formula 1

      US media firm Liberty Media to buy Formula 1 - BBC News
      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.

      Liberty Media is buying the stake from the private equity firm CVC Capital.

      CVC has held a stake for the past decade but sold some of its holding in 2012.

      It has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years.

      Analysis: Dan Roan BBC sports editor

      This is one of the biggest deals in sports history and one of the most important moments in the history of F1.

      Under overlord Bernie Ecclestone's long command - and the last decade of ownership by private equity group CVC - the motorsport series has enjoyed remarkable growth in terms of global popularity, profits and new races.

      Liberty Media will hope to build on these strengths, helping the sport gain new fans, especially in the Americas, and to capitalise on new opportunities around marketing, promotion, digital rights and social media.

      However, assuming European regulators approve the takeover, there are issues that the new US owners will need to address - the decline in appeal among younger audiences in an ultra-competitive sporting landscape, the rising costs to teams, fans and circuits, and the predictability of races.

      Many inside the sport will be relieved to see the back of CVC, which has done very well out of its investment, and excited by the future. But this is also the beginning of the end of Mr Ecclestone's remarkable reign. Inevitably there will be uncertainty.
      "We are excited to become part of Formula 1," said Greg Maffei, chief executive of Liberty Media.

      "We think our long-term perspective and expertise with media and sports assets will allow us to be good stewards of Formula 1 and benefit fans, teams and our shareholders."

      Mr Ecclestone said: "I would like to welcome Liberty Media and Chase Carey to Formula 1 and I look forward to working with them."

      Earlier, he said in an interview with Reuters that he had been asked to stay on for three years and would miss the Singapore Grand Prix on 18 September as he needed be in London for the negotiations.

      The 85-year-old British businessman has run the sport for 40 years.


    2. Advertisement
    3. #2
      Isitme's Avatar
      Isitme is offline Sky User Moderator
      Exchange: Bannockburn
      Broadband ISP: Sky Fibre Unlimited
      Router: Sky Hub SR102
      Sky TV: Sky+ HD
      Join Date
      Dec 2006
      Location
      Central Scotland
      Posts
      34,256
      Thanks
      65
      Thanked 1,655 Times in 1,616 Posts

      Re: US media firm Liberty Media to buy Formula 1

      At nearly 86 years old and over 2 billion pounds in the bank, I don't know how Bernie can be bothered carrying on with F1. I think he has only been offered the CEO position to stop him fighting the take-over. He has beaten off take-over attempts many times in the past. Good luck to him.

      TomD


      Please note the views and recommendations in my posts are my own and in no way reflect the views of SkyUser.


      Useful Utilites

      https://www.nirsoft.net/utils/wifi_information_view.html/ TCPOptimiser /Test Socket

      Note - When downloading always select the Custom install or you will end up with stuff you don't want.





    4. #3
      Scubbie's Avatar
      Scubbie is offline Sky User Moderator
      Exchange: 02392
      Broadband ISP: Sky Fibre Unlimited
      Router: Sky Q Hub ER110
      Sky TV: Sky+HD box
      Join Date
      Mar 2010
      Location
      Near Portsmouth
      Posts
      28,200
      Thanks
      842
      Thanked 2,223 Times in 2,092 Posts

      Re: US media firm Liberty Media to buy Formula 1

      I suspect that he loves the F1 life too much to want to give it up.

      I'm not sure if his daughter is really interested in it, otherwise she would have been more actively running things by now.

      As for the 2b, you can't take it with you.

      Sky Fibre Unlimited Pro: Connected at 80,000 kbps / 20,000 kbps
      Previous ADSL2+ Speed 19999 kbps 1153 kbps, Line Attenuation 17.5 db 6.9 db, Noise Margin 7.5 dB 8.7 dB
      Speedtest: 17.15MB/s 0.97Mb/s Ping 31 ms

     

     

    Tags for this Thread

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts
    •  
    SkyUser - Copyright © 2006-2020. SatDish and NewsreadeR | SkyUser is in no way affiliated with Sky Broadband / BSkyB
    RIPA NOTICE: NO CONSENT IS GIVEN FOR INTERCEPTION OF PAGE TRANSMISSION