Liberty takeover promises long-term vision

Liberty Media's takeover of Formula One promises a long-term strategy for the cash-rich sport with a sharper focus on new media markets and another attempt to expand in North America.

The deal, valued at $8 billion including debt, gives an American media and telecoms business effective control of a sport rather than the more customary situation of such companies paying up to buy rights to screen live events.

The deal was seen as positive for a sport featuring famous car brands such as Ferrari and Mercedes, as well as for buyer Liberty Media, owned by US cable TV mogul John Malone.