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Closing Bell

Liberty Media Raising $1.55B From Investors To Support F1 Purchase

Liberty Media today announced an "agreement with third-party investors" to raise $1.55B to support its purchase of F1. Liberty in September "bought a controlling stake in the sport" in a deal worth $8B. At that time, Liberty acquired a 19.1% stake from main shareholder CVC Capital Partners. Liberty today said that a "deal with investors had been reached to fund the acquisition" (MOTORSPORT.com, 12/14). The money raised from the investment "will be used to increase the cash component paid to the consortium" of selling F1 shareholders (REUTERS, 12/14).

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