Liberty Global, Liberty Media and Discovery to buy a stake in F1?

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• ocav Posts: 2,341

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  04/02/14 - 01:05 #2

  Well we know what this is for...
  
  *cough* Eurosport *cough*

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• 1andrew1 Posts: 4,088

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  04/02/14 - 01:16 #3

  Interesting commentary from the FT (registration required)
  
  "It would also intensify the rivalry between Mr Malone and Mr Murdoch, who made an unsuccessful pitch to buy F1 three years ago. At that time, Bernie Ecclestone, 83, F1’s chief executive, said the idea of a media mogul owning F1 was not a good idea. But CVC [a private equity firm and owner of a large stake in Formula 1] would welcome an exit as a way out of the legal imbroglio surrounding Mr Ecclestone, who is caught in bribery allegations."
  (A former banker stated he was paid $44m by Ecclestone and Ecclestone's family trust after the sale to CVC.)
  http://www.ft.com/cms/s/0/7fe03af0-8cda-11e3-ad57-00144feab7de.html#axzz2s6I1D5k8

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• TelevisionUser Posts: 41,414

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  04/02/14 - 05:14 #4

  So far this is only an interest in, and not an actual stake yet. Bernie would have probably objected to such an approach but he's now damaged goods and has had to resign from Formula One's management board (and he'll almost certainly be out of his CEO post if he's convicted in Germany) so his blocking influence is significantly reduced. That would explain the timing of this interest.
  
  As Ocav has rightly indicated above, if this share acquisition proceeds then the logical implication is that Sky will not get the right to show Formula One races once the existing contract expires*. If this does transpire, then I do hope that the BBC can still retail significant coverage as at present.
  
  *Sky appear to be under attack on two fronts now in respect of their summer TV sports rights - http://forums.digitalspy.co.uk/showpost.php?p=71178341&postcount=40, http://www.dailymail.co.uk/sport/cricket/article-2549091/BT-Sport-set-head-head-Sky-TV-rights-cricket-golf.html#ixzz2sCwJHpX6.

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• Satellite John Posts: 1,881

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  04/02/14 - 05:35 #5

  ocav wrote: »

  Well we know what this is for...
  
  *cough* Eurosport *cough*

  
  I doubt it, as the FT says Eurosport is to "acquire second-tier sports rights".

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• 1andrew1 Posts: 4,088

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  04/02/14 - 05:38 #6

  ocav wrote: »

  Well we know what this is for...
  
  *cough* Eurosport *cough*

  
  Difficulty is that if Liberty does not own all the company, it has to sell the rights to the highest bidder. Otherwise, the other shareholders will lose out.

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