, Columnists
Billionaire Takes Pole Position in Formula One
Racing championship isn't exactly motoring.
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Billionaire John Malone is called the cable cowboy after building a TV distribution and broadband empire spanning the U.S. and Europe. His purchase of Formula One gives him some premium sports content to load up in his six-shooter.
As so often with Malone, the financial engineering is complex but the strategy sound. Liberty Media, one of a galaxy of companies he controls, will buy F1 -- adding it to stakes in a baseball team, a concert promoter and a satellite radio station.