The European Commission has opened an investigation into the proposed acquisition of Dorna Sports by Liberty Media.The Commission has preliminary concerns that the transaction could lead to higher prices for the licensing of broadcasting rights for motorsports events hosted by both parties.Liberty Media and Dorna Sports are both international media companies. Liberty owns the Formula One Group and holds the exclusive commercial rights for the FIA Formula One World Championship. Dorna Sports holds exclusive commercial rights for the FIM World Championship Grand Prix (‘MotoGP’) as well as other motorcycle racing championships.The Commission’s preliminary investigation indicates that the transaction may reduce competition between Liberty Media and Dorna Sports in the licensing of broadcasting rights for motorsports content. In particular, the transaction may remove important competitive constraints on Liberty Media and Dorna Sports, which may strengthen their position vis-à-vis broadcasters of motorsports content and could ultimately lead to higher prices.During its in-depth investigation, the Commission will also further investigate whether Liberty Media’s and Liberty Global’s largest shareholder, Mr. John Malone, is able to exert decisive influence over both companies. If confirmed, the transaction could also give rise to concerns that Liberty Media may foreclose rival broadcasters in countries in which Liberty Global is active, namely in Belgium, Ireland and the Netherlands.The Commission now has until 14 May 2025, to take a decision.
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