Liberty Global Takes Pole Position in Formula E

Liberty Global has acquired a 65% controlling interest in Formula E by purchasing shares from Warner Bros Discovery. Formula E CEO Jeff Dodds highlighted this acquisition as a significant indicator of the sport's growth potential. Liberty Global and Liberty Media, both chaired by John Malone, now control Formula E and Formula One, respectively.


Reuters | London | Updated: 13-06-2024 18:34 IST | Created: 13-06-2024 18:34 IST
Liberty Global Takes Pole Position in Formula E
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Liberty Global is taking a controlling interest in Formula E after buying shares held by Warner Bros Discovery, the electric car racing series announced on Thursday. The acquisition will, on completion, leave Liberty with a 65% stake in a world championship that is now in its 10th season.

Formula E CEO Jeff Dodds said in a statement the announcement came as the electric series planned for a period of growth and was "a powerful vindication of the huge potential of our sport". While telecoms group Liberty Global will control Formula E, Liberty Media are the commercial rights holders for the much bigger Formula One business. Both are chaired by U.S. billionaire John Malone.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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