Get the latest gossip

Liberty Media Gains Controlling Interest in Formula E After Buying Stake in Racing League From Warner Bros. Discovery


Liberty Media has taken control of Formula E after acquiring a stake in the all-electric racing league from Warner Bros. Discovery.

A publicly traded company led by billionaire John Malone, Liberty Global announced Thursday it is in the process of acquiring WBD’s 25% equity in Formula E, which is in its 10th racing season. The deal means Liberty will own 65% of Formula E. The purchase price of the Warner shares isn’t disclosed, Variety ‘s sibling brand Sportico reported. Other owners of Formula E include CMC Capital, a Chinese private equity fund which holds 10% according to data compiled S&P Global Market Intelligence; Saudi Arabia sovereign wealth fund PIF, which owns 5% of the league; and undisclosed stakes held by SECA Shanghai Sports and Driven Lifestyle Group, according to S&P.

Get the Android app

Or read this on Variety

Read more on:

Photo of Warner Bros

Warner Bros

Photo of racing league

racing league

Related news:

News photo

As NBA Remains A Jump Ball, Warner Bros. Discovery Grabs French Open Tennis Rights In U.S.

News photo

Two House Democratic Lawmakers Again Press Disney, Fox And Warner Bros. Discovery For Info On Sports Streaming Service Venu

News photo

After The First Look Of Him As Pennywise The Clown Sparked Brutal Backlash, Bill Skarsgård Was Left Unable To Sleep As He Struggled To Deal With The “Hateful Opinions”