News Corp., Exor working on F1 bid

Discussion in 'Racing' started by truebluefan, May 4, 2011.

  1. truebluefan

    truebluefan Administrator Staff Member Administrator

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    Formula One's owners have been approached by Rupert Murdoch's News Corp. about a potential joint takeover bid with the investors behind Ferrari, the sport's oldest team.

    Private equity firm CVC Capital Partners, which has owned the rights to F1 since 2006, said Tuesday it has received a "friendly" approach from News Corp.

    Exor, the holding company of the Agnelli family, has a controlling 30 percent stake in global automaker Fiat Group -- the majority owner of sports car manufacturer Ferrari, which has competed in every F1 championship since it was launched in 1950.

    Read more: http://sports.espn.go.com/rpm/racing/f1/news/story?id=6472257
     
  2. Evolution

    Evolution Ice Champ

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    This could be a very interesting turn out.
     

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