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New bid on F1 stake?

2014-02-04 08:16

NEW BOSSES LOOMING? F1 supremo Bernie Ecclestone says just because US media companies are bidding on a stake of F1, doesn't mean current owner CVC is in trouble. Image: AP

LONDON, England - US media companies Liberty and Discovery have moved to buy a major stake in Formula 1 from CVC, according to reports.

The New York Post said the bid is headed by John Malone, but Reuters and the Telegraph said the talks about a 49% sale are only at an early stage.

Writing in the Telegraph, journalists Katherine Rushton and Christian Sylt said the bid is in direct competition with News Corp's Rupert Murdoch, who in 2011 was reported to be interested in buying the sport.

CVC would not comment, but F1 chief executive Bernie Ecclestone said he was not specifically aware of the Malone bid: "You've got all these people that buy and sell companies, like people that buy and sell anything.

"They always think that somebody who wants to sell is in trouble. They think they (CVC) are in trouble."

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