John Malone, owner of Liberty Global Media is making overtures to purchase as much as 49% of Formula One Group to become the largest minority stake owner in the worldwide racing series. Malone, whose Liberty Global Media already owns 51% of the EuroSport network, is aiming to take the 35% stake of the CVC private equity firm and add another 14% from other sources to amass his 49% stake in the company. Talks are in preliminary stages and will not likely commence until the finish of the current season. In the USA, Malone’s Liberty company owns Major League Baseball’s Atlanta Braves franchise and is attempting to take over the Time Warner cable company. A successful bid to grab the 49% stake of Formula One Group by Malone is speculated to improve the valuation of the racing series to $9 billion.
The current worldwide television rights-holder for Formula One racing is Rupert Murdoch’s BskyB media company.