Liberty Media Given Nod In MotoGP Acquisition Pursuit By European Commission
Liberty is set to acquire 84 per cent of MotoGP with Dorna retaining 16 per cent in a deal valued around the 4.3 billion euro mark.
The European Commission gave Liberty Media, the group that owns Formula One, the nod in their bid to acquire MotoGP on Monday.
Liberty is set to acquire 84 per cent of MotoGP with Dorna retaining 16 per cent in a deal valued at around the 4.3 billion euro mark, following the unconditional approval of the European body.
Liberty agreed to buy the motorcycle event from Dorna Sports in April 2024, but the Commission opened an investigation to determine if the merger held up against the integrity of competition rules.
Dorna chief executive Carmelo Ezpeleta, who will continue to run MotoGP alongside his team as they have since 1998, said, 'MotoGP is one of the most thrilling sports on earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world."
'Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing," he said.
'The deal is now expected to close no later than July 3, 2025, opening the door to a new era for the sport," the MotoGP website read.
The Commission had been concerned that the transaction could lead to an increase in licensing prices for broadcasting rights to motorsport events. It also examined Liberty Media's relationship with its parent company, Liberty Global, a leading cable operator in several European countries.
The Commission announced it was satisfied that, in the European national markets it investigated, the companies are not close competitors for the licensing of broadcasting rights for sports content on Monday.
The statement indicated there was insufficient evidence that Mr. John Malone, Liberty Media's largest shareholder, could exert decisive influence over Liberty Global.
Liberty took over F1 in the year 2017, and has implemented an expansion strategy since, with a penchant for spectacle.
First Published:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
26 minutes ago
- Business Standard
Endurance Technologies share rises 5% after Q1 results; key numbers here
Endurance Technologies share price: Endurance Technologies shares were in demand in a volatile session, with the scrip rising up to 5.25 per cent to an intraday high of ₹2,663.95 per share on Thursday, August 14, 2025. Around 1:20 PM, Endurance Technologies shares were trading 3.04 per cent higher at ₹2,607.85 per share. In comparison, BSE Sensex was trading 0.17 per cent higher at 80,673.12 levels. Why did Endurance Technologies share price rise today? Endurance Technologies share price rose on the back of a strong result in the June quarter of financial year 2026 (Q1FY26). The company's consolidated total income, including other income, rose 17.3 per cent year-on-year (Y-o-Y) to ₹3,354.5 crore from ₹2,859.4 crore in Q1FY25. Ebitda increased 17.5 per cent to ₹479.5 crore, maintaining a stable margin of 14.3 per cent versus 14.3 per cent last year. Profit before tax (PBT) grew 12.5 per cent Y-o-Y to ₹301.6 crore, both before and after exceptional items. Profit after tax (PAT) before minority interest rose 11 per cent to ₹226.4 crore, with the PAT margin slightly declining to 6.7 per cent from 7.1 per cent in the same quarter last year. Anurang Jain, managing director of the company said, "Two-wheeler sales volumes of Indian OEMs in Q1FY26 stood at 5.8 million units, a Y-o-Y decline of 1.6 per cent. Our standalone business topline has again fared better with a growth of 10.1 per cent. Our European operations topline has grown 28.5 per cent in Euro terms. Even if we remove the impact of the Stoferle acquisition, our Total Income grew 0.6 per cent despite the European new car registrations declining 1.8 per cent.' Jain added, 'Businesses worldwide are currently facing uncertainties with regard to trade barriers, rare earth magnet supplies, inflation and end-user demand. Very recently, challenges faced included the pandemic, wars, chip shortages and energy price hikes. Individual businesses like ours cannot change the course of these events. We instead focus on building strength and diversity in our own business. Today, we serve multiple OEMs across India and Europe. Our products go into ICE and electric vehicles. In India, we are strong in 2-wheeler and 3-wheeler end use, and are focused on growing our presence in the 4-wheeler segment, which is already our area of strength in Europe. We are also adding new products to our portfolio. While the markets look indecisive, we have maintained a sharp focus on ensuring that we remain on the path of profitable growth. Our overseas subsidiary has completed the acquisition of Stoferle entities. In India, we are in different stages of planning and construction of five manufacturing facilities - Shendra Castings, Bidkin Alloy Wheels, Battery Pack, Brakes expansion and Forgings expansion. The recent announcement mandating Anti-Lock Braking systems in all 2-wheelers provides further tailwind to our growth plans." About Endurance Technologies Endurance Technologies is among the leading automotive component manufacturers with a strong presence in India and Europe (Italy and Germany). In India, it primarily serves two- and three-wheeler OEMs, offering a wide range of products including aluminium castings, suspensions, transmissions, braking systems, and battery management solutions. In Europe, the company supplies aluminium castings to four-wheeler OEMs and supports the two-wheeler aftermarket. As a full-service solutions provider, Endurance partners with customers across the entire product lifecycle – from concept to end-user delivery – and also caters to the replacement market. The company operates 33 plants globally, with 19 in India, five in Germany, and nine in Italy, supported by an in-house tool room, a 29-acre proving ground, five DSIR-approved R&D facilities in India, and two technical centres in Italy.
Economic Times
26 minutes ago
- Economic Times
European shares hit two-week high as investors gauge earnings, economic data
European shares edged higher to touch a two-week high on Thursday, as investors assessed corporate earnings and economic data. ADVERTISEMENT The pan-European STOXX 600 index rose 0.2%, as of 0710 GMT, while the UK's blue-chip FTSE 100 fell 0.2%. Britain's economy grew by a faster-than-expected 0.3% in the second quarter, official figures showed. Economists polled by Reuters, as well as the Bank of England, had forecast a 0.1% growth for the April-June period. Global stocks have rallied recently, driven by firming bets of a U.S. interest rate cut next month, leading to record highs on Wall Street. Among individual stocks, Embracer slumped 24.1% and was the top laggard on the STOXX 600 index after the gaming company's first-quarter operating profit missed estimates. Carlsberg fell 4.8% after the Danish brewer missed half-year profit and volume forecasts, and said it did not expect any improvement in the consumer environment for the remaining year. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
26 minutes ago
- Time of India
'Tesla shame' bypasses Norway as sales jump despite Musk's politics
Like many Norwegians, Espen Lysholm is not a fan of Elon Musk these days, uncomfortable with the world's richest man's lurch into right-wing politics. He does, however, love Musk's cars. "I'll be honest that it's a bit of a double-edged sword having a Tesla," said Lysholm, who bought a Model Y in May - his third new Tesla in less than a decade. Musk's politics - he helped bankroll Donald Trump's US election win last year and has championed European far-right parties - have sparked a fierce consumer backlash. But while that anger has provoked acts of vandalism against Tesla cars and dealerships and pushed once loyal customers, particularly in Europe, to ditch the brand, sales in tiny Norway are booming, at least for now. "I did think a bit around all that's going on with the company and the brand," said Lysholm, who works at a cartech company in the city of Trondheim. "But it's really all about the charging infrastructure and the seamless technology of the car. No one comes even close." In the first half of this year as Tesla sales plunged by half or more in Germany, Sweden, Denmark and the Netherlands, they grew by 24 per cent year-on-year in Norway, making the country of 5.5 million the company's second-largest European market. Tesla and Musk did not respond to Reuters' requests for comment. Reuters interviews with Norwegian Tesla owners as well as EV industry experts highlight a 12-year relationship between the Nordic nation and the carmaker that, despite recent signs of strain, has bred brand loyalty and insulated against blowback. "In many ways, you could say Norway helped build Tesla," said Christina Bu, secretary general of the Norwegian EV Association. "Everyone in Norway knows someone who owns a Tesla," she said. "It's more personal." Though small - its market represented less than 12 per cent of Tesla's European sales in the first half of the year and a tiny fraction of the company's global revenues - Norway holds symbolic importance for the brand. It was the first country outside of North America to receive Tesla's flagship EV, the Model S, in 2013. And the company helped build Norway into the world's leader in EV adoption. Tesla built its first Supercharger network outside of North America in Norway, locking in new customers with the promise of a vast web of fast-charging stations for their EVs. In return, Norway gave Tesla a global showcase for its technology, and Musk, once a regular visitor to the country, praised its government's subsidy-backed EV policies. "Norway rocks," he wrote in 2022 on Twitter, the social media platform he bought and later renamed X. The Model S rapidly became the best-selling car in Norway where EVs now account for 94 per cent of all new vehicle sales. In 2021, Tesla took the title of the country's leading car brand outright and has accounted for between 11 per cent and 20 per cent of total new car registrations in each of the last five years. That dominance, however, is now being challenged. Volkswagen temporarily seized the top spot in the first quarter. Volvo Cars' EV offering is also fast winning over Norwegian drivers. And Chinese manufacturers, including BYD, XPeng and SAIC Motor's brand MG, together seized a 12.3 per cent share of new sales in June. Boycott to save Tesla is, for now, successfully fending off the growing threats to its crown in Norway and overcoming the popular disenchantment with CEO Musk. New Tesla registrations dipped 4 per cent last year and the early months of 2025 were marked by subdued sales. But Norwegians snapped up its refreshed Model Y SUV, which first came out in March, as well as a lower-priced version released in May. "Having the ease of operation, having a car that fulfills your needs and for a very affordable price, that is much more important to the Norwegian car buyer than dealing with Tesla shame," said Oyvind Solberg Thorsen, head of the Norwegian Road Federation (OFV). A promotional blitz that saw Tesla offer zero-interest financing and free supercharging in May likely contributed to a 213 per cent spike in Tesla's new car registrations. "It's practically free money, so I jumped at it," Lysholm said. The same promotion did not prevent steep sales declines in Nordic neighbours Sweden and Denmark, however, where no Tesla models cracked the list of top-10 sellers in July, according to OFV. The big question for Tesla is whether Norwegians' loyalty to the brand will last. Research from polling agency Norstat published in February showed that 40 per cent of Norway's Tesla owners believe Musk's political activism is hurting the brand, though more than half of Tesla owners polled said they intended to buy another Tesla. Odd Bakken, a Tesla owner since 2014 who once admired Musk as a visionary, won't be one of them. Driving his Model S from Oslo to his home in the southern town of Ski, he told Reuters he still loves the technology. "Tesla was the first electric car that was actually a good car," said Bakken, who at one point sat on the board of the Norwegian Tesla owners club. It was a two-way relationship, with Tesla posting pictures on its social media of Bakken's Model S on a 2014 trip to northern Norway. But after Musk moved to back Trump and rally behind political movements like Germany's far-right Alternative for Germany, he decided Norwegians needed to show their displeasure via their pocketbooks and convince the company to push him out. "To save Tesla, we need to boycott Tesla," he said. That doesn't mean he wouldn't buy a second-hand model though. "Because the company doesn't benefit from us buying their used cars," he said.
