Neither of the two parties have talked to the CVC – current owners of the Great Circus – or F1's chief executive Bernie Ecclestone in regards to a potential purchase, but according to the statement certain shareholders have been or will be approached in order to see whether such a move would be viable.
“EXOR, one of Europe's largest listed investment companies, and News Corporation, the global media group, confirm that they are in the early stages of exploring the possibility of creating a consortium with a view to formulating a long-term plan for the development of Formula 1 in the interests of the participants and the fans,” said the statement.
“Over the coming weeks and months, EXOR and News Corporation will approach potential minority partners and key stakeholders in the sport. There can be no certainty that this will lead to an approach to Formula 1’s current owners.”
Interestingly enough, the takeover bid may create a conflict of interests should the move be completed, as EXOR is headed by none other than John Elkann, current chairman and chief executive of Ferrari’s parent company FIAT. Additionally, the company has strong links with the Agnelli family, owners of FIAT.
As for News Corporation, the media group is controlled by Rupert Murdoch, who holds the CEO and chairman positions in the company. Until recently, several rumors appeared in the media about Murdoch's potential interest in buying F1, but Ecclestone had told the media that there would be no chance of that happening in the near future.
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