Liberty Media Secures EU Approval for MotoGP Takeover

The European Commission has granted unconditional approval for Liberty Media Corporation's acquisition of Dorna Sports, allowing the merger of Liberty's Formula 1 business with Dorna's motorcycle racing series, MotoGP. This decision follows a Phase II investigation and marks a significant departure from the Commission's 2006 ruling, where similar concerns about market power and reduced competition led to a conditional approval that required the divestment of MotoGP. The Commission's recent decision was influenced by evidence suggesting that the competitive landscape has evolved, acknowledging that Formula 1 and MotoGP compete within a broader sports content market. This rare unconditional approval post-Phase II underlines a more nuanced regulatory approach and reflects principles from the Commission's 2024 Revised Market Definition Notice. The case emphasizes the importance of market definition in merger controls and the possibility of regulatory review periods extending when such precedents are revisited.