Liberty Media Formula One Corp Ser
FWONK
Financials
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Liberty Media Formula One Corp Ser is under investigation by the U.S. Department of Justice for potential antitrust violations related to its control of the Formula 1 World Championship. The investigation, opened in August 2024, stems from Liberty Media’s rejection of Andretti Global’s bid to join the sport as a new team. As the owner of the commercial rights to Formula 1, Liberty Media holds significant power over team entry and the structure of the championship. A separate report in October 2024 indicates a Belgian MP has requested the European Commission investigate Liberty Media for alleged monopolistic dominance in motorsport broadcasting and commercial rights. This scrutiny follows a history of regulatory attention, including a UK competition investigation into Liberty Media’s initial $8 billion acquisition of Formula 1 in 2016.
Formula One Group is incorporated in Jersey (Channel Islands), which has a 0% corporate income tax rate. The Jersey incorporation serves no operational purpose — F1 is headquartered and operated from London. This is part of John Malone's broader Liberty Media empire of tax-optimized corporate structures. Liberty Media acquired F1 in 2017 via a tax-efficient tracking stock structure. See LLYVK for the full pattern of tax avoidance across the Malone empire.
Research Sources
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Related Exclusions
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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