Liberty shareholders approve proposals for F1 takeover

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Liberty Media Corporation has taken another step towards its pending acquisition of Formula 1, following a special meeting of stockholders held today.

At the meeting, the stockholders approved proposals related to both shares and Liberty’s restated certificate of incorporation to change names from “Media Group” and the “Liberty Media Common Stock” to the “Formula One Group” and the “Liberty Formula One Common Stock,” respectively.

This leaves the last hurdle to clear for Liberty direct approval from the FIA (Fédération Internationale de l’Automobile) itself, with the goal of completing the transaction in full before the end of 2017’s first quarter.

Further information can be found at Liberty’s release, linked here.