The latest announcement is out from Liberty Media Corporation Series A Liberty Formula One (FWONA).
Liberty Media Corporation is set to acquire a significant majority stake in Dorna Sports, S.L., a Spanish company known for managing premier motorcycle racing events, in a deal valued at approximately €3.502 billion. While Liberty Media will hold roughly 86% of Dorna’s equity, the remaining 14% will stay with certain management members of Dorna. The acquisition involves both cash payment and shares in Liberty Media’s own stock. The completion of the deal hinges on certain regulatory approvals, and there are agreements in place regarding the governance and management of Dorna post-acquisition. This strategic move by Liberty Media represents a notable expansion in the sports and entertainment industry.
Find detailed analytics on FWONA stock on TipRanks’ Stock Analysis page.