Liberty Media Gains Controlling Interest in Formula E After Buying Stake in Racing League From Warner Bros. Discovery
variety.comBrendan Kelly Liberty Global is buying a stake of Formula E from Warner Bros. Discovery, giving the media company controlling interest in the all-electric version of the motorsport.
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.
In a 2021 filing, WBD said its quarter ownership of the circuit was worth $65 million, though that is almost certainly the value of the company’s initial investment in the league, since the filing noted a current fair value wasn’t readily available.
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