Liberty Media Finalizes Formula 1 Acquisition

Liberty Media said late Monday it completed the acquisition of Formula 1 from a consortium of sellers and noted that the motorsports business appointed Chase Carey as its new CEO, succeeding Bernie Ecclestone who led F1 for 40 years.

Carey will serve as CEO of F1 in addition to his existing role of chairman. The company also said Ecclestone was named as chairman emeritus of the motorsports business.

Now that the transaction has been completed, Liberty Media said it will be shortly renamed as Formula One Group and its ticker symbols will be changed to FWONA, FWONB and FWONK from LMCA, LMCB and LMCK, respectively.

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