F1: Liberty Media buys Formula 1

After plenty of speculation, it’s finally been confirmed that American company Liberty Media has shelled out a sum of GBP 3.3 billion, to buy Formula 1. CVC Capital Partners, who were the previous owners of F1, have sold their controlling share of the sport to the company. And, despite the fact that ownership has changed hands, F1 supremo Bernie Ecclestone still remains the man in charge of running the show, having confirmed that he will be…