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Malone and Discovery racing for F1 stake

February 4, 2014 10.32 Europe/London By Robert Briel

John MaloneJohn Malone and Discovery Communications are in talks to acquire a 49% stake in Formula One, according to a New York Post report.

Under the plans, Malone would make the deal with his forma Liberty Media and Liberty Global.

Talks are being held with private equity firm CVC Capital, who owns 35% of Formula One, including all the voting rights.

It is not clear where the other 14% could come from. One possibility is the Lehman Brothers estate, which needs to sell its 12.3% holding by the end of June.

Acquiring a large stake in F1 would make sense for Discovery, who recently took control of pan-european sports broadcaster Eurosport.

Liberty Media in the US already holds the broadcasting rights for Major League Baseball’s Atlanta Braves. The company controls 29% of the voting rights in Discovery.

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Filed Under: Editor's Choice, Newsline, Top Story Tagged With: CVC, Discovery, Eursport, F1, Formula One, Liberty Global, Liberty Media Edited: February 5, 2014 11:55

About Robert Briel

Arnhem-based Robert covers the Benelux, France, Germany, Austria and Switzerland as well as IPTV, web TV, connected TV and OTT. Email Robert at rbriel@broadbandtvnews.com.

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