Liberty Media Corp. (LMCA) has agreed to buy auto-racing company Formula One in a deal with a $4.4 billion equity value, CNBC reported Wednesday.

Liberty will acquire an 18.7% interest at first and will eventually increase its stake, according to the report.

CVC Capital Partners owns a majority of Formula One.

Full story at http://www.cnbc.com/2016/09/07/liberty-media-to-purchase-formula-1.html

Write to nymonitoring@dowjones.com

(END) Dow Jones Newswires

September 07, 2016 16:42 ET (20:42 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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