Billionaire John Malone is feeling the need for speed. Malone's Liberty Global and Discovery Communications wants to take a 49% stake in Formula One. Formula One's biggest shareholders are the London ... more 
Billionaire John Malone is feeling the need for speed. Malone's Liberty Global and Discovery Communications wants to take a 49% stake in Formula One. Formula One's biggest shareholders are the London based CVC Capital Partners and Lehman Brothers. Formula One says it is open to talking with Malone, but there is one big hurdle: valuation. Formula One says it is worth $9 billion and Malone values it $8 billion dollars. Malone only wants to pay about $4 billion for the 49% stake he's interested in. Negotiations are on going. Earlier this year, Discovery Communications took a 51% stake in the European sports media group Eurosport International. Owning Formula One would bring them more quality sports content. As for CVC, it was thinking about taking Formula One public, but it's not realistic before the trial of Formula One's CEO Bernie Ecclestone settles. Ecclestone is on trial in Munich for paying a $44 million USD bride. The earliest time that a verdict may come is this September. less 
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Fri, Jun 13, 2014 3:33 PM EDT