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F1 owner Liberty Media to acquire MotoGP | KLRT [Video]

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State Business and Economy News

Liberty Media on Monday announced plans to acquire premier motorcycle racing series MotoGP in a deal valued at 4.2 billion euros (approximately $4.53 billion).

It means the U.S. media giant will soon own the highest echelon of motorsports on both two and four wheels. Liberty Media is the same company that acquired Formula 1 in 2016, in a deal that was valued at the time at about $8 billion.

For its latest deal, Liberty Media will acquire the current rights holder of MotoGP, Madrid-based Dorna Sports. Following the acquisition, which is expected to close by the end of the year, Dorna Sports will remain an independently run company under Liberty Media’s Formula One Group, which oversees a number of Liberty Media’s assets, including F1.

Liberty Media will acquire approximately 86% of Dorna, and Dorna’s current management will retain the rest. Carmelo Ezpeleta, who has been Dorna’s CEO since 1994, will remain in his position and continue to run the operation at its current Madrid location.

In a …

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