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Liberty Clears Antitrust Hurdles for Formula 1 Buy

Liberty Media said it has received the required approvals from the appropriate anti-trust authorities in connection with its planned purchase of motor racing icon Formula 1.

Liberty first announced the deal, valued at about $4.4 billion, in September.

The deal, expected to be completed in the first quarter of 2017, still has a few hurdles to clear, including receiving approval from Liberty shareholders regarding the issuance of new shares to finance the transaction, at a special meeting scheduled for Jan. 17. The deal also needs to receive a nod from the Fédération Internationale de l'Automobile, the governing body of Formula 1.