Motorsport empire
Liberty Global acquires majority stake in Formula E
The telecommunications group Liberty Global has acquired a majority stake in Formula E!
Once the takeover is complete, the company will hold a 65 percent stake in Formula E.
The CEO is US billionaire John Malone
Liberty Global and Liberty Media are two arms of a multinational corporate network that also holds the commercial rights to Formula 1. US billionaire John Malone is the CEO and most important shareholder of both companies.
Liberty Global CEO Mike Fries said the two companies are separate entities and it would surprise him if common ownership by one person would be a problem.
Takeover of MotoGP announced
Liberty Media announced the takeover of the MotoGP motorcycle world championship in April, pending approval from antitrust authorities.
Fries told the news agency Reuters that Liberty Global intends to finance Formula E until the break-even point is reached. In his opinion, this point is not far away.
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