Liberty Global & Discovery To Acquire Minor Stakes In Formula E
Formula E Holdings Ltd (“the company”) is proud to announce that Liberty Global plc, and Discovery Communications Inc. are to become part of the group of shareholders in the company.
The arrival of these two global media companies represents an important step in the long-term development of the series and confirms its potential on the motorsport scene. Their strategic vision and strong financial backing will provide stability as well as creating a solid base from which the company can expand in the future.
“It is a significant step forward for Formula E to receive the backing of two major global media companies when we are barely halfway through our first season,” commented the CEO of the company, Alejandro Agag. “The experience and knowhow they bring will provide a significant boost to Formula E. We look forward to creating new opportunities together to develop and promote premium content for a global audience.”
Niall Curran, President of Liberty Global's media investments group, said, “Like Formula E, our business is closely connected to sustainability, speed and entertainment, so this is a great match. We are delighted to be supporting Alejandro and his team in building this new global sports media property, while building our portfolio of strategic content investments.”
“We are very pleased to join Formula E’s ownership group. With unmatched global distribution, our Velocity, Turbo and Eurosport brands, and 30 years of experience as a global media company, Discovery’s unique expertise will help develop this new and unique motorsport,” said Bruce Campbell, Discovery Communications Chief Development & Digital Officer and General Counsel.
Source: Formula E