Liberty Media gets antitrust OK for Formula One buyout

American John Malone's company will soon own F1

Liberty Media Corporation ("Liberty Media") (LMDIA) (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) announced Friday that it has received all required approvals from all appropriate anti-trust authorities in connection with its pending acquisition of Formula 1.

Closing of the Acquisition remains conditioned upon (i) approval by Liberty Media’s stockholders of the issuance of LMCK shares in connection with the Acquisition at a special meeting scheduled for January 17, 2017 and (ii) approval from the Federation Internationale de l'Automobile, the governing body of Formula 1.

The acquisition is still expected to close before the end of the first quarter in 2017.