[DeTomaso] NPS: also today

[Asa Jay Laughton]

Well played.


Asa  Jay

Quoting James coyne <tecnosound at hotmail.com>:

> ( I think that was a Star Trek joke Larry )
>
>
> ________________________________
> From: DeTomaso <detomaso-bounces at server.detomasolist.com> on behalf  
> of Larry - Ohio Time <Larry at OhioTimeCorp.com>
> Sent: Thursday, September 8, 2016 12:31 PM
> To: audionut at hushmail.com; detomaso at server.detomasolist.com
> Subject: Re: [DeTomaso] NPS: also today
>
> Block me!
>
>
>
>
> -----Original Message-----
> From: DeTomaso [mailto:detomaso-bounces at server.detomasolist.com] On Behalf
> Of audionut at hushmail.com
> Sent: Thursday, September 08, 2016 3:18 PM
> To: detomaso at server.detomasolist.com
> Subject: Re: [DeTomaso] NPS: also today
>
> Dammit Larry!  This is a Pantera Forum, not a trivia dumping ground!
>  Sent using Hushmail
> On September 8, 2016 at 12:15 PM, "Larry - Ohio Time"  wrote:In a
> blockbuster deal, Liberty Media Corporation and CVC Capital Partners
> (CVC) announced that Liberty Media has agreed to acquire Formula One
> from a
> consortium of sellers led by CVC.
> Liberty Media, a U.S. corporation, owns interests in quite a range of
> media,
> communications and entertainment businesses, including SiriusXM, the
> Atlanta
> Braves baseball team.
> The transaction price represents an enterprise value for Formula One
> of $8.0
> billion and an equity value of $4.4 billion.
> According to the press release, Liberty will rename the company the
> Formula
> One Group after the sale is completed. The consortium of sellers led
> by CVC
> will own approximately 65% of the Formula One Group's equity and will
> have
> board representation at Formula One to support Liberty Media in
> continuing
> to develop the full potential of the sport. In addition, a CVC
> representative will be joining the Liberty Media Board of Directors.
> Chase Carey has been appointed as the new Chairman of Formula One,
> succeeding Peter Brabeck-Letmathe, who will remain on Formula One's
> board as
> a non-executive director. Bernie Ecclestone will remain Formula One's
> CEO.
> Greg Maffei, president and CEO of Liberty Media, said:
> "We are excited to become part of Formula One. We think our long-term
> perspective and expertise with media and sports assets will allow us
> to be
> good stewards of Formula One and benefit fans, teams and our
> shareholders.
> We look forward to working closely with Chase Carey and Bernie
> Ecclestone to
> support the next phase of growth for this hugely popular global
> sport."
> Chase Carey, chairman of Formula One, said:
> "I am thrilled to take up the role of Chairman of Formula One and have
> the
> opportunity to work alongsideBernie Ecclestone, CVC, and the Liberty
> Media
> team. I greatly admire Formula One as a unique global sports
> entertainment
> franchise attracting hundreds of millions of fans each season from all
> around the world. I see great opportunity to help Formula One continue
> to
> develop and prosper for the benefit of the sport, fans, teams and
> investors
> alike."
> Bernie Ecclestone, CEO of Formula One, said:
> "I would like to welcome Liberty Media and Chase Carey to Formula One
> and I
> look forward to working with them."
> Donald Mackenzie, co-chairman of CVC, commented:
> "We are delighted Chase Carey is joining Formula One as its new
> Chairman and
> that he will be working alongside Bernie Ecclestone. Chase's
> experience and
> knowledge of sport, media and entertainment is as good as it gets and
> we are
> very pleased to secure his services. Bernie has been a wonderful CEO
> for us
> over the last 10 years. There have been many successes and the
> occasional
> challenge but there has never been a dull moment and we have had a lot
> of
> fun. The combined skills of Chase and Bernie mean that the successes
> should
> continue and we wish them well. We would like to thank Peter
> Brabeck-Letmathe for his outstanding contribution during his tenure as
> Chairman. His leadership has served the company well, and we are
> pleased
> that he will remain on the board as a non-executive director."
> Race teams competing in the series will be given the opportunity to
> participate in the investment in Formula One, according the press
> release,
> but details are not yet worked out. Certain teams have already
> expressed an
> interest in investing after completion of the acquisition.
> The impact of what Liberty and new Chairman Chase Carey can impose in
> the
> near term will probably be very little. After the sale is completed in
> 2017,
> however, we expect to see much bigger changes in the way the series is
> covered in by new media, where it has often lagged behind other major
> sports. Teams should have more control of their destiny as well, which
> will
> create stability for the teams and sponsors. Other than keeping
> 85-year old
> Ecclestone as CEO, it seems like a step forward for Formula 1 and its
> fans.
> But time will tell.
> Larry (lets hope they don't blow it) - Cleveland
>
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-- 
Asa Jay Laughton - sent from somewhere other than home
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