- Racing series Formula One could be sold in the next few weeks for more than $8B, with media suitors closing in including Sky (OTCPK:SKYAY) and a teamed-up Liberty Global (NASDAQ:LBTYA) and Discovery Communications (NASDAQ:DISCA), The Wall Street Journal reports.
- CVC Capital Partners bought majority control of Formula One in 2006, but has since trimmed that stake to about 35%.
- The sport could provide a boost to media firms coveting live-sports rights that are growing increasingly valuable in a time-shifted viewing era.
- Discovery has been investing aggressively overseas, including heavy attention on Europe, and Fox (FOX, FOXA) holds 39% of Sky.