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☆ House Judiciary chief launches investigation into Formula 1 over Andretti exclusion
▼ + stars: | 2024-05-07 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

The chairman of the powerful House Judiciary Committee is launching an investigation into Formula 1 and its U.S. owner, Liberty Media , to demand answers about the sport's decision to deny Andretti Global a spot on the grid. The letter is dated Tuesday and addressed to Greg Maffei, the president and CEO of Liberty Media, and Stefano Domenicali, the president and CEO of Formula One Group. "Delaying Andretti Cadillac's entry into Formula One for even one year will harm American consumers to benefit failing Formula One teams," Jordan writes. "Limiting the number of teams in Formula One will increase the price of sponsoring or buying into an existing Formula One team. The letter comes days after Mario Andretti, a former Formula 1 world champion, visited Capitol Hill and spoke at a press conference with lawmakers to pressure the sport to admit Andretti Global.

Persons: Mario Andretti, John James, Jim Jordan, Greg Maffei, Stefano Domenicali, Andretti, Jordan Organizations: Washington , DC, Andretti, Capitol, General Motors, Committee, Liberty Media, NBC News, Formula One, Formula, One, Andretti Global, Capitol Hill Locations: Washington ,, Ohio, United States, Michigan

☆ Liberty Media CEO on $4.5B MotoGP deal: We want to show the world how exciting this sport is
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media CEO on $4.5B MotoGP deal: We want to show the world how exciting this sport isGreg Maffei, Liberty Media president and CEO, joins 'Squawk on the Street' to discuss the playbook for MotoGP, the price Liberty Media paid for the racing company, and if this is transaction will be accretive to shareholders.

Persons: Greg Maffei Organizations: Liberty Media, MotoGP

☆ How an F1 spending cap made racing teams more investable
▼ + stars: | 2023-11-16 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

That's how the heads of Formula 1 racing see it, crediting a league-wide budget cap with making the team businesses more sustainable and boosting valuations. "When we got involved, literally, the bottom teams were being traded for zero. The budget cap — set at $135 million per team in 2023 — limits how much teams can spend on developing and building their race cars. Before it was introduced in 2021, the top teams in the league could spend multiples of that in a given year. It's a model similar to U.S. sports leagues, several of which limit what teams can spend on player salaries (though F1 driver salaries are excluded) — and it's the work of F1-owner Liberty Media, which bought the league in 2017.

Persons: Greg Maffei, CNBC's Sara Eisen, It's, Maffei Organizations: Liberty Media Locations: U.S

☆ Liberty Media CEO on Formula 1: We made a large investment because we believe in the sport
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media CEO on Formula 1: We made a large investment because we believe in the sportGreg Maffei, Liberty Media president and CEO, joins 'Squawk on the Street' to discuss whether or not Liberty Media's investment in Formula 1 will pay off, the importance of the Las Vegas Grand Prix on Formula 1's growth in the U.S., and more.

Persons: Greg Maffei Organizations: Liberty Media, Liberty, Las Vegas Locations: U.S

☆ Viva Las Vegas, Formula One betting big on Sin City race
▼ + stars: | 2023-11-15 | by ( Steve Keating | ) www.reuters.com time to read: +5 min

Wynn resort is offering the first-ever Las Vegas Grand Prix Million Dollar All-Access Experience that includes a $100,000 philanthropic gift. "However, the brand synergies with the inaugural Las Vegas Grand Prix are unmatched." Formula One has long been a magnet for the celebrity class and Las Vegas is sure to be an irresistible pull. Las Vegas may be the gambling capital of the world but there will be little bet on F1. "I would say this is due to lack of parity," Derek Stevens, owner of Circa and several other Las Vegas casinos told Reuters.

Persons: Max Verstappen, Greg Maffei, Red Bull, Aston Martin, Hilton, Red, it’s, Rebecca McAdam Willetts, Mark Wang, David Beckham, Shaquille O’Neal, Mark Wahlberg, Gordon Ramsay, Toto Wolff, Derek Stevens, Steve Keating, Toby Davis Organizations: LAS VEGAS, Las Vegas, Liberty Media, Formula One, Vegas, Ferrari, Mercedes, McLaren, Red Bull, PokerStars, Public Relations, Reuters, Poker, New York Stock Exchange, American Express, Heineken, Hilton, MGM Resorts International, Fountain Club, Hilton Grand, Club SI, Drai's Beach Club, Thomson Locations: Vegas, United States, Sin City, VVIPs, Las Vegas, Monaco, Drai's, Toronto

☆ F1 on the right track in Vegas after parking lot past
▼ + stars: | 2023-11-14 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

"The only problem last time was we couldn’t run on the Strip, which is what I wanted to do," he said. "I wanted to make sure when somebody turned their television on they knew they were in Vegas, not in the desert. But it never happened because the people in Vegas, all the hotels, couldn’t see that it was going to be any good for them. "F1 didn’t take to Vegas, it was mutual," recalled journalist Nigel Roebuck 30 years later in MotorSport magazine. "A night race down the Strip that’s going to be iconic ... that’s going to be on every piece of television imaginable."

Persons: Jose Carlos Pace, Bernie Ecclestone, Amanda Perobelli, Max Verstappen, Ecclestone, we’d, I’m, They’ve, Nigel Roebuck, Roebuck, Alan Jones, Maurice Hamilton, Greg Maffei, Alan Baldwin, Chris Reese Organizations: Prix, Jose Carlos Pace Circuit, Formula, One, Briton, Caesars Palace, Formula One, MotorSport, Netflix, Liberty Media, Thomson Locations: Sao Paulo, Brazil, Las Vegas, Vegas, United States, Miami, Americas, Austin, America, U.S, London

☆ Will F1 Entertain Expansion?
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWill F1 Entertain Expansion? CNBC's Sara Eisen talks to Liberty Media President & CEO Greg Maffei, MoneyGram Haas Team Principal Guenther Steiner and Mercedes-AMG PETRONAS Team Principal Toto Wolff about their thoughts on expansion in F1. "Inside Track: The Business of Formula 1," premieres Thursday at 8pm ET/PT on CNBC.

Persons: Sara Eisen, Greg Maffei, MoneyGram, Guenther Steiner, Toto Wolff Organizations: Liberty Media, Mercedes, CNBC

☆ Liberty Media CEO Greg Maffei on Formula 1, Atlanta Braves and media outlook
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media CEO Greg Maffei on Formula 1, Atlanta Braves and media outlookLiberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss the company's investor day, the company's ownership stake in Formula 1, Atlanta Braves, media outlook, and more.

Persons: Greg Maffei Organizations: Liberty Media, Formula, Atlanta Braves

Formula One fanatics will get more behind-the-scenes access to the global motorsports series through a new CNBC documentary that explores the business aspects of the highest form of racing in the world. The documentary “Inside Track: The Business of Formula 1 " will debut Nov. 16 on CNBC ahead of the inaugural Las Vegas Grand Prix. The Las Vegas race is a third stop in the United States this season as F1 has expanded through North America behind a burst of popularity sparked by Netflix's own docudrama on the series. The program also examines the fan experience with a look at the Las Vegas Grand Prix, which is expected to be the most expensive event for spectators on this year's F1 schedule. Eisen also interviews F1 Academy managing director Susie Wolff with a focus on female drivers.

Persons: Netflix's, Sara Eisen, ”, Eisen, ” Eisen, Greg Maffei, Stefano Domenicali, Red Bull, Haas, Lewis Hamilton, Kevin Magnussen, Nico Hulkenberg, Susie Wolff Organizations: CNBC, Las Vegas, North America, Netflix, Liberty Media, Liberty, McLaren, F1 Locations: Vegas, United States, North, America

☆ Watch CNBC's full interview with Liberty Media CEO Greg Maffei
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Liberty Media CEO Greg MaffeiLiberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss short sales of Sirius XM stock, developing a new tracking stock, and Liberty Media's short-term deal with ESPN coming to a close.

Persons: Greg Maffei Organizations: Liberty Media, Greg Maffei Liberty Media, Sirius XM, Liberty, ESPN

☆ Liberty Media CEO Greg Maffei: We are very bullish on the long-term prospects for F1
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLiberty Media CEO Greg Maffei: We are very bullish on the long-term prospects for F1Liberty Media CEO Greg Maffei joins 'Squawk on the Street' to discuss short sales of Sirius XM stock, developing a new tracking stock, and Liberty Media's short-term deal with ESPN coming to a close.

Persons: Greg Maffei Organizations: Liberty Media, F1 Liberty Media, Sirius XM, Liberty, ESPN

☆ Atlanta Braves CEO Derek Schiller on going public: There's a lot of room for growth
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAtlanta Braves CEO Derek Schiller on going public: There's a lot of room for growthAtlanta Braves president and CEO Derek Schiller and Liberty Media CEO Greg Maffei join 'Squawk on the Street' to discuss the Braves ringing the opening bell at the Nasdaq this morning, becoming the only publicly traded MLB team following its split off from Liberty Media last week, and more.

Persons: Derek Schiller, Greg Maffei Organizations: Email Atlanta Braves, Atlanta Braves, Liberty Media, Nasdaq, MLB

☆ The Atlanta Braves team is a stock you can buy and sell. Top execs describe what moves the shares
▼ + stars: | 2023-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"I think it gives shareholders an opportunity to feel like they're direct owners of the Braves," Liberty Media CEO Greg Maffei said Wednesday on CNBC's " Squawk on the Street ." Atlanta Brave Holdings encompasses the baseball team and its real estate development known as The Battery, which includes its ballpark, Truist Park. The newly public stock has dipped less than 1% to trade around $44 apiece since its first day of trading. The Formula One tracking stock hit an all-time high last month. The executive said profits of the franchise will continue to be driven by operations on the field and of the real estate.

Persons: Major League Baseball's, BATRA, Greg Maffei, We've, we've, Derek Schiller, Maffei, They're, Fanduel Sportsbook, Ronald Acuña Jr, He's Organizations: Atlanta Braves, Major League, Nasdaq, Liberty Media Corp, Braves, Liberty Media, Holdings, Turner Broadcasting, Major League Baseball

☆ F1 should strike deal while iron is hot, says rights holders
▼ + stars: | 2023-05-05 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

Liberty Media CEO and President Greg Maffei said stakeholders should come together, "strike while the iron is hot" and extend the current agreement that runs through 2025. The deal with Liberty Media, the governing FIA and teams sets out the terms and commercial arrangements under which the teams race. I think Liberty has done a great job with the sport. "The digital age has advanced since we did the last agreement and I think it needs to be discussed. "But I think for the most part it is a solid agreement, it's working so we don't need to fix what is not broken."

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
▼ + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.

☆ Ticketmaster is in hot water — again — and facing a fine after an 'unprecedented' number of people were sold fake tickets to a Bad Bunny concert
▼ + stars: | 2022-12-12 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

Ticketmaster apologized after an "unprecedented" number of people were sold fake Bad Bunny tickets. It follows Ticketmaster's Taylor Swift debacle last month. The ticketing platform released a statement on Saturday apologizing after an "unprecedented" number of people were sold fake tickets to a Bad Bunny concert in Mexico City. The Bad Bunny fiasco comes soon after Ticketmaster's Taylor Swift debacle. Live Nation has been facing a DOJ antitrust investigation since before the Taylor Swift fiasco, The New York Times reported last month.

☆ Taylor Swift's tour promoter says it had no choice but to work with Ticketmaster
▼ + stars: | 2022-11-22 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Taylor Swift's tour promoter is shifting blame for the botched "Eras" ticket sale squarely onto Ticketmaster, potentially fueling even more concerns about the Live Nation-owned ticket seller's dominant role in the industry. AEG Presents, the company in charge of handling Swift's upcoming tour, has rejected claims made by Ticketmaster and Live Nation's largest shareholder, Liberty Media, that the promoter chose to work with the ticketing site. Lawmakers, like Rep. Alexandria Ocasio-Cortez, D-N.Y., called for more oversight on Live Nation, which merged with Ticketmaster in 2010, expressing antitrust concerns. They have called on the Department of Justice to investigate Ticketmaster and Live Nation for "hiking up ticket prices" and "charging rip-off junk fees." On Friday, The New York Times reported the Justice Department had already opened an antitrust investigation into Live Nation's practices prior to the Swift ticket sale fiasco.

☆ Ticketmaster provides no real answers as it struggles to explain disastrous Taylor Swift Eras Tour concert sale
▼ + stars: | 2022-11-19 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

Ticketmaster apologized for its chaotic and botched ticket-sale system for Taylor Swift's upcoming tour. "We want to apologize to Taylor and all of her fans — especially those who had a terrible experience trying to purchase tickets," Ticketmaster wrote in a tweet Friday night. "We're working to shore up our tech for the new bar that has been set by demand for the Taylor Swift | The Eras Tour," Ticketmaster wrote. This disrupted the predictability and reliability that is the hallmark of our Verified Fan platform," Ticketmaster wrote. According to Ticketmaster, a record-breaking 3.5 million fans registered to the verified presale in hopes of snagging a ticket on Nov. 15.

☆ White House on Taylor Swift Ticketmaster debacle: Capitalism without competition is exploitation
▼ + stars: | 2022-11-18 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

White House Press Secretary Karine Jean-Pierre answers questions during the daily press briefing at the White House in Washington, August 9, 2022. Declining to comment on "any potential investigation" by the Justice Department, Jean-Pierre said Biden has been clear on how he feels about companies that hold monopolies. Ticketmaster, part of Live Nation, is facing scrutiny for its roll out of Taylor Swift concert tickets. The New York Times reported Friday the Justice Department had opened an antitrust probe into Live Nation after the fiasco. Live Nation Entertainment is a merger between Ticketmaster and Live Nation in 2010.

☆ Taylor Swift slams 'outside entity' over ticket fiasco: 'I'm not going to make excuses for anyone'
▼ + stars: | 2022-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

"I'm not going to make excuses for anyone because we asked them, multiple times, if they could handle this kind of demand and we were assured they could. The CEO of Live Nation's largest shareholder defended Ticketmaster on Thursday, chalking up the issues to Swift's popularity and bots. "It's a function of Taylor Swift. The site was supposed to open up for 1.5 million verified Taylor Swift fans," Maffei told CNBC's "Squawk on the Street." Maffei said Ticketmaster sold more than 2 million tickets on Tuesday and demand for Swift "could have filled 900 stadiums."

☆ Ticketmaster expected 1.5 million 'verified' Taylor Swift fans on the site but 14 million people were trying to get tickets, Live Nation chairman says: 'We could have filled 900 stadiums'
▼ + stars: | 2022-11-17 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Ticketmaster was only supposed to be opened to 1.5 million "verified" Taylor Swift fans for presale. Live Nation's chairman said 14 million people tried to get tickets, and could've filled 900 stadiums. "Despite all the challenges and the breakdowns, we did sell over 2 million tickets that day," Live Nation's Greg Maffei said. However, among the 14 million fans were bots, "which are not supposed to be there," Maffei said. Maffei said Ticketmaster attempted to build "capacity for peak demand," but Swift's ticket sales "exceeded every expectation."

☆ Demand for Taylor Swift concert tickets exceeded every expectation, says Liberty Media CEO
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand for Taylor Swift concert tickets exceeded every expectation, says Liberty Media CEOLiberty Media CEO Greg Maffei sits down with CNBC's David Faber at the company's annual investor day to discuss why the company plans to split off the Atlanta Braves and the overwhelming demand for Taylor Swift concert tickets on Live Nation.

☆ Ticketmaster's largest shareholder blames massive demand − including from bots − for Taylor Swift ticket fiasco
▼ + stars: | 2022-11-17 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Live Nation is sympathetic to fans who couldn't get tickets, Greg Maffei said on CNBC's "Squawk on the Street" Thursday. "It's a function of Taylor Swift. Liberty also said it would create a new stock called Liberty Live, which will include its stake in Live Nation. People amplified their complaints this week when tickets for Taylor Swift upcoming Eras tour went on presale on Ticketmaster's website. Maffei also defended Live Nation against lawmaker and activist concerns that Ticketmaster and Live Nation are abusing their market power.

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