News Corp/BSkyB deal collapses. Good news for F1?

Rupert Murdoch’s News Corporation has withdrawn his bid to takeover BSkyB after the phone hacking allegations their best-selling Sunday paper, The News of the World. The news came moments before the house of commons were due to vote on the BSkyB issue calling on Mr. Murdoch to do so.

This news will be well received in Formula one circles as News Corp was positioning it’s self for a possible takeover majority stake holder CVC coupled with News Corp’s intended BskyB takeover, Free to air Formula one would have been under great threat.

Free to air Formula One races has been a cornerstone of the Concorde agreement and it’s seen as vital for the sponsors to gain maximum coverage throughout the race weekend.

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