Motor racing-Liberty Global takes controlling stake in Formula E

Liberty Media

13/06/2024 14:00

LONDON, June 13 (Reuters) - 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.    

 (Reporting by Alan Baldwin; editing by Jason Neely)
 ((alan.baldwin@thomsonreuters.com; +442075427933;))