Liberty Media Formula One Group owns commercial rights and related media assets for Formula 1 racing.
Liberty acquired F1 for $4.4B equity in 2017; nine years later the Formula 1 Group trades at a $22B market cap ($25B EV) EV) driven by the cost cap turning teams profitable, US expansion (Miami, Vegas), and the Drive to Survive flywheel that doubled US viewership and expanded the female audience from 7% to 40%.