Formula One Will Have a New American Owner

(LONDON) — Formula One is being bought by Liberty Media, a U.S. company that invests in entertainment and sports, for $4.4 billion. Liberty Media Corp., which is controlled by 75-year-old tycoon John Malone, has ended years of uncertainty about the ownership of the auto racing series with Wednesday's deal. There will be continuity, with Bernie Ecclestone remaining the chief executive officer of F1.