BRUSSELS (Reuters) -Formula One owner Liberty Media received unconditional clearance from EU regulators for its 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.
Reuters had reported that EU regulators were poised to approve the acquisition in April. Liberty Media had announced the 3.5-billion-euro deal to purchase an 86% stake in Dorna in April 2024.
(Reporting by Makini Brice; Editing by Sudip Kar-Gupta)
Brought to you by www.srnnews.com