Will Malone and Discovery buy a 49% stake in Formula One?

What: John Malone, the leading executive at  Liberty Global and Liberty Media, is about to buy 49% stake in the Formula One racing brand in partnership with Discovery Networks, according to reports. Discussions are still preliminary.
Why it matters: If the purchase goes through Formula One would be valued at US $ 9billion.

liberty globalJohn Malone, who runs Liberty Global and Liberty Media, is about to buy a 49% stake in Formula One racing valuing the brand at more than US $9 billion. Malone would by the fabled Formula One brand in partnership with Discovery Communications, according to reports.

Malone had  held preliminary talks with CVC Capital Partners, which owns about 35% of Formula One.

This purchase may change media companies and live sports rights’ owners relationship. Still, Malone and Discovery have not made any formal offer so far and talks are at an early stage. The move could also affect Malone’s rival Rupert Murdoch, who attempted and failed at bidding for the event back in 2011.

Malone is known for having spent almost US $30 billion on European cable assets in the past two years while Liberty Media is the middle of a US $61 billion battle to control Time Warner Cable and unite US cable.

BskyB is the current owner of the television rights to Formula One and has seen its pay TV sports rights challenged in recent years by a competitor, who has secured the right to Premier League and Champions League matches.

 


Editorial Staff

Portada Staff

MORE FROM PORTADA

BRAND MARKETING RESEARCH: 41% of Consumers Have Switched Brands Due to Poor Personalization

BRAND MARKETING RESEARCH: 41% of Consumers Have Switched Brands Due to Poor Personalization

A summary of the most exciting recent research in brand marketing in the U.S., U.S.-Hispanic and Latin American markets. If you're trying to keep up, consider this your one-stop shop.


Hispanic Mobile Network AdsMovil Provides Advertisers with Viable Alternative to Duopoly

Hispanic Mobile Network AdsMovil Provides Advertisers with Viable Alternative to Duopoly

Could Adsmovil be the long-awaited viable alternative to the Facebook/Google duopoly?


Meredith Corporation Buys Time Inc. for US$2.8 billion

Meredith Corporation Buys Time Inc. for US$2.8 billion

Meredith Corporation has entered into a binding agreement to acquire all outstanding shares of Time Inc. for US$18.50 per share in an all-cash transaction valued at us$2.8 billion.Meredith adds leading media brands to already strong portfolio of National and Local Media Properties, creating media powerhouse with US$4.8 Billion in Revenues, Including US$2.7 billion of advertising revenues.