Liberty Media receives nod from EU regulators for MotoGP deal
Formula One F1 - Monaco Grand Prix - Circuit de Monaco, Monaco - May 22, 2025 General view of the F1 logo ahead of the Monaco Grand Prix REUTERS/Stephanie Lecocq/File Photo
BRUSSELS - Formula One owner Liberty Media received unconditional clearance from EU regulators for its roughly 4 billion euros ($4.60 billion) acquisition of Dorna Sports, which owns MotoGP, the European Commission said on Monday.
Liberty Media had argued the transaction would allow it to grow the reach and appeal of MotoGP.
The commission said the decision followed a lengthy probe that examined if the acquisition would reduce competition for the licensing of sports content broadcasting rights.
"Based on the evidence gathered, the Commission found that on such markets the companies are not close competitors for the licensing of broadcasting rights for sports content," the commission said in a statement.
"Therefore, the transaction will not remove important competitive constraints between Formula 1 and MotoGP," it added.
Liberty Media CEO Derek Chang welcomed the EU's clearance and reiterated he saw the potential for strong growth in MotoGP.
"Today's approval from the European Commission marks the final condition to closing Liberty's acquisition of MotoGP," said Chang.
"MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential, which we will look to realize through deepening the connection with the core fan base and expanding to a wider global audience," he added.
Liberty Media said its acquisition of 84% of Dorna was worth 4.3 billion euros on an enterprise value basis, and represented an equity value of 3.7 billion euros.
Reuters had reported that EU regulators were poised to approve the acquisition in April. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
30 minutes ago
- Straits Times
Ferrand-Prevot in yellow at Tour de France Femmes after stage eight win
Sign up now: Get ST's newsletters delivered to your inbox Cycling - UCI World Championships 2023 - Emirates Arena, Glasgow, Scotland, Britain - August 12, 2023 France's Pauline Ferrand Prevot in action during the the Women's Elite Mountain Bike Cross-country Olympic REUTERS/Matthew Childs/File Photo SAVOIE, France - France's Pauline Ferrand-Prevot (Visma–Lease a Bike) powered to victory on the mountainous stage eight of the Tour de France Femmes on Saturday, dropping her rivals before the Col de la Madeleine summit to claim the yellow jersey on the eve of the finale. The 33-year-old, who won the Paris-Roubaix Femmes in April, attacked seven kilometres from the summit to overtake Niamh Fisher-Black (Lidl–Trek) and Yara Kastelijn (Fenix–Deceuninck) before riding clear. She then crossed the line one minute 45 seconds ahead of Sarah Gigante (AG Insurance–Soudal), with Fisher‑Black in third two minutes 15 seconds behind. It was the third straight stage victory for France which capped an aggressive display from Ferrand-Prevot, who started the day 26 seconds off the general classification leader Kimberley Le Court Pienaar (AG Insurance-Soudal. Her win put her in the overall lead, with Gigante, two minutes 37 seconds adrift, the only general classification favourite still able to challenge her on the final 124.1km mountain ride from Praz-sur-Arly to Chatel. Mauritian Le Court crashed on the descent from the Col du Frene with 63km remaining, briefly trailing the peloton by about a minute before resuming her chase. She rejoined later but the effort and the relentless climbing cost her dear in the general classification. Ferrand-Prevot, Paris Olympics gold medallist in cross-country mountain biking, will take her commanding lead into Sunday's final stage, aiming to become the first Frenchwoman to win the Tour de France Femmes. REUTERS
Straits Times
36 minutes ago
- Straits Times
India to maintain Russian oil imports despite Trump threats, government sources say
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump has threatened 100 per cent tariffs on US imports from countries that buy Russian oil unless Moscow reaches a peace deal with Ukraine. NEW DELHI - India will keep purchasing oil from Russia despite US President Donald Trump's threats of penalties, two Indian government sources told Reuters on Aug 2, not wishing to be identified due to the sensitivity of the matter. On top of a new 25 per cent tariff on India's exports to the US, Mr Trump indicated in a Truth Social post in July that India would face additional penalties for purchases of Russian arms and oil. On Aug 1, Mr Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. 'These are long-term oil contracts,' one of the sources said. 'It is not so simple to just stop buying overnight.' Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw names 6 law firms taken to task over involvement in property deals Singapore Police reopen access to all areas in Marina Bay after crowd congestion eases at NDP Preview area Singapore Opening of Woodlands Health has eased load on KTPH, sets standard for future hospitals: Ong Ye Kung Asia KTM plans new passenger rail service in Johor Bahru to manage higher footfall expected from RTS Singapore HSA investigating teen allegedly vaping on MRT train Asia 4 workers dead after falling into manhole in Japan Singapore New vehicular bridge connecting Punggol Central and Seletar Link to open on Aug 3 Singapore New S'pore jobs portal launched for North West District residents looking for work near home The New York Times also quoted two unnamed senior Indian officials on Aug 2 as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Aug 1, foreign ministry spokesperson Randhir Jaiswal said India has a 'steady and time-tested partnership' with Russia. 'On our energy sourcing requirements... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances,' he said. The White House did not immediately respond to requests for comment. India's top supplier Mr Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100 per cent tariffs on US imports from countries that buy Russian oil unless Moscow reaches a peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35 per cent of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1 per cent from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Mr Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil, Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery Petrochemical have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week. REUTERS
Straits Times
5 hours ago
- Straits Times
Piastri denies Norris a Hungarian practice sweep
Sign up now: Get ST's newsletters delivered to your inbox Formula One F1 - Hungarian Grand Prix - Hungaroring, Budapest, Hungary - August 1, 2025 McLaren's Oscar Piastri in action during practice REUTERS/Bernadett Szabo/File Photo BUDAPEST - Formula One leader Oscar Piastri lapped fastest in Saturday's final Hungarian Grand Prix practice and denied McLaren teammate Lando Norris a sweep after the Briton dominated Friday's sessions. Piastri lapped the Hungaroring with a best time of one minute 14.916 seconds, 0.032 quicker than his closest title rival. The Australian, who took his first F1 win in Hungary last year, leads Norris by 16 points after 13 of the season's 24 rounds. Ferrari duo Charles Leclerc and Lewis Hamilton, the latter a record eight times winner in Hungary, were third and fourth 0.399 and 0.768 off the pace respectively. Mercedes' Italian rookie Kimi Antonelli showed signs of a return to form with the fifth-best time while Aston Martin continued their strong Friday form with Fernando Alonso sixth and Lance Stroll seventh. Mercedes' George Russell was eighth ahead of the Sauber pair of Gabriel Bortoleto and Nico Hulkenberg. Red Bull's reigning champion Max Verstappen was only 12th and teammate Yuki Tsunoda 19th. REUTERS
