US media firm to buy Formula One

Posted online September 8, 2016 | 11:46 am

U.S. firm Liberty Media is getting into the racing business.

The company agreed to purchase Formula One, the world's leading motor-racing championship, in a deal valuing the company at $8 billion, including $4.1 billion in debt.

Liberty Media will initially buy a minority stake, with a full takeover planned following regulatory approval.

Read more from BBC News.

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