Investing.com - Formula One owner Liberty Media Formula One Corp A (NASDAQ:FWONA) shares were up more than 4% at $80. The company has reached an agreement in principle with General Motors (NYSE:GM) to support bringing GM/Cadillac as the 11th team to the Formula 1 grid in 2026.
Liberty Media said it plans to spin off most of its entertainment assets besides Formula One into a separate, publicly traded entity, and announced that CEO Greg Maffei is stepping down.