P1racenews AI automatic summary:
Liberty Media says it is facing an antitrust investigation by the U.S. Department of Justice over its rejection of Andretti Global’s Formula 1 bid. Liberty Media told investors that it “has receive…
Liberty Media is under antitrust investigation by the U.S. Department of Justice for rejecting Andretti Global’s Formula 1 bid. President and CEO Greg Maffei stated their intention to cooperate and defend their decision within U.S. antitrust laws. The company emphasized the importance of meeting criteria for FIA and F1 approval for any expansion, including new entrants like Andretti. Six senators, led by Amy Klobuchar and Mike Lee, requested the investigation following Mario Andretti’s lobbying efforts after Liberty’s rejection. The dispute raises questions about competitiveness, value, and income distribution in F1, highlighting the complexity of commercial relationships under the upcoming Concorde Agreement from 2026 to 2030.
