Liberty Global is buying a stake of Formula E from Warner Bros. Discovery, giving the media company controlling interest in the all-electric version of the motorsport.
A publicly traded company led by billionaire John Malone, Liberty Global announced Thursday it is in the process of acquiring WBD’s 25% equity in Formula E, which is in its 10th racing season. The deal means Liberty will own 65% of Formula E. The purchase price of the Warner shares isn’t disclosed, PvNew‘s sibling brand Sportico reported.
In a 2021 filing, WBD said its quarter ownership of the circuit was worth $65 million, though that is almost certainly the value of the company’s initial investment in the league, since the filing noted a current fair value wasn’t readily available. A 2023 U.K. regulatory filing by Formula E Operations, which manages the races, showed revenue of €181.5 million and a net loss of €15.3 million in the year ending September 2022 — about $202 million and $17 million, respectively, at that month’s exchange rate.
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