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Liberty Global is set to take a controlling interest in Formula E following the purchase of shares from Warner Brothers Discovery. The acquisition will take Liberty Global’s shareholding in the ser…
Liberty Global will acquire a controlling interest in Formula E by purchasing shares from Warner Brothers Discovery, increasing their shareholding to 65 percent. The acquisition is pending regulatory approval, expected to be finalized by the end of the year. Formula E CEO Jeff Dodds expressed gratitude towards Warner Bros. Discovery and welcomed Liberty Global’s investment for future growth. Liberty Global’s diverse portfolio includes stakes in ITV, Virgin Media, and Ziggo Sport, highlighting a strategic move towards sustainable and attractive ventures. CEO Mike Fries emphasized Formula E’s potential for growth and aligning with advanced sustainability standards in sports, showcasing their long-term investment strategy. The acquisition will keep Formula E and Formula 1 as separate entities, maintaining independence between the two racing championships.
