Formula One sold to billionaire John Malone's Liberty Media

US communications billionaire John Malone's Liberty Media announced it would buy the legendary jewel of world road racing, Formula One, in a deal that values the sport at $8 billion. Liberty said it would keep Bernie Ecclestone, who built Formula One into a global operation over nearly four decades, on as chief executive, but also named Chase Carey, the vice chairman of 21st Century Fox, as the company's new chairman. The deal brings Liberty control of the organization's Grand Prix races, 21 in