Liberty Media Corporation to purchase Formula One
Liberty Media Corporation and CVC Capital Partners have announced that Liberty Media has agreed to acquire Formula One, the iconic global motorsports business, from a consortium of sellers led by CVC. Liberty Media owns interests in a broad range of media, communications and entertainment businesses.
The consideration comprises cash and newly issued shares in the Liberty Media Group tracking stock (LMCK) and a debt instrument exchangeable into shares of LMCK. The transaction price represents an enterprise value for Formula One of $8.0 billion and an equity value of $4.4 billion.