WBD - Liberty Global's Acquisition to Aid Long-Term Growth | Benzinga
Liberty Global (NASDAQ: LBTYA) is set to acquire shares held by Warner Bros. Discovery (NASDAQ: WBD) in the electric car racing series, Formula E. This acquisition will increase Liberty Global's ownership in Formula E to 65%, granting it a controlling interest in the rapidly growing motorsport and, therefore, aid the long-term growth of the company.
Formula E is the only FIA-sanctioned electric world motor racing championship and the world's top-rated ESG sport. It is also unique for being the only net zero carbon sport from its inception. Now in its 10th season, the Formula E Championship features 16 races across four continents in some of the world's most iconic cities, making it one of the premier sporting events globally.
With nearly 400 million fans worldwide, Formula E has attracted top-tier motorsport teams and talent. The championship currently hosts 11 teams and 22 drivers, including renowned names, such as Jaguar, Porsche, Maserati, McLaren and Nissan. At the recent Monaco E-Prix, Formula E unveiled its next-generation car, the Gen3 Evo, which can accelerate to 60mph in just 1.82 seconds, outperforming current ...