Liberty Media has agreed a deal to acquire Formula One.
The global motorsport brand will change hands from a consortium of sellers, led by CVC Capital Partners.
According to a statement released by Liberty Media, the acquisition of an 18.7 percent minority stake has already been completed for $746 million.
Liberty Media Group, which also owns sports entities such as the MLB's Atlanta Braves, will rebrand as Formula One Group when the takeover is completed.
"The transaction price represents an enterprise value for Formula One of $8 billion and an equity value of $4.4 billion," Liberty Media said in the statement.