Liberty Global has acquired a majority stake in Warner Bros Discovery’s Formula E electric racing series. As a result of the transaction, the company became the owner of 65% of the shares of the WK.
Jeff Dodds, CEO of Formula E: “First of all, I would like to express my thanks to Warner Bros. Discovery for the support and guidance they have provided to Formula E over the past nine years. Liberty Global has a proven track record of building and growing businesses, and their investment in us comes at an ideal time as we plan for a period of exponential growth.
I know Liberty’s leadership team personally and have worked with them for more than a decade, so I’m excited to continue to benefit from their experience and resources. This is a powerful confirmation of the enormous potential of our sport.”
While Liberty Global acquired the rights to Formula E, another company, Liberty Media, owns Formula 1. Both companies are led by American billionaire John Malone.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
