Feb 3 Liberty Global and Discovery
Communications have made a joint approach to CVC
Capital about buying a 49 percent stake in Formula One,
the Telegraph reported, without citing sources.
The talks are at an early stage but could value the
auto-racing company at more than 6.5 billion pounds ($10.62
billion), the paper said on its website. ()
It added that U.S. cable group Liberty Global and Discovery
Communications, the media company behind cable channels TLC and
Animal Planet, had requested access to private information about
Private equity firm CVC currently owns 35 percent of Formula
One, including all the voting rights. The Telegraph said that
CVC declined to disclose details of where the remaining 14
percent would come from.
Representatives from CVC, Liberty and Discovery were not
immediately available for comment.
Sources told Reuters in 2011 that News Corp, backed
by media tycoon Rupert Murdoch, planned to make a bid to take
control of Formula One.
Formula One boss Bernie Ecclestone hinted at the time that
he would step down if Murdoch's bid was successful.