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Liberty Media Corporation to purchase Formula One

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Liberty Media Corporation and CVC Capital Partners have announced that Liberty Media has agreed to acquire Formula One, the iconic global motorsports business, from a consortium of sellers led by CVC. Liberty Media owns interests in a broad range of media, communications and entertainment businesses.

The consideration comprises cash and newly issued shares in the Liberty Media Group tracking stock (LMCK) and a debt instrument exchangeable into shares of LMCK. The transaction price represents an enterprise value for Formula One of $8.0 billion and an equity value of $4.4 billion.

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