Liberty Media Faces DOJ Antitrust Probe Over Andretti-Cadillac F1 Bid Rejection

Aug 9, 2024, 03:05 PM

Liberty Media, the owner of Formula 1, is under investigation by the U.S. Department of Justice for potential antitrust violations related to its rejection of Andretti Global's bid, including Andretti-Cadillac, to join the F1 series. This investigation follows a series of letters from U.S. Congress members and a request from U.S. senators to the Biden Administration to examine whether the rejection violated antitrust laws. Liberty Media acknowledged the investigation during an earnings call, stating that it is not opposed to expansion and will cooperate fully with the DOJ's inquiry.