Netflix eyes F1 rights takeover

The CEO of Netflix has admitted the company may be interested in buying the rights to Formula 1. The next step, according to Netflix CEO Reed Hastings, is the actual F1 rights. Formula 1’s commercial rights are currently owned by Liberty Media, but there was recently speculation a Saudi Arabian group may be eyeing a takeover. “A few years ago, the rights to Formula 1 were sold,” Hastings said. Purists, however, have questioned the way Netflix covers Formula 1, likening it more to pure “entertainment” than a sincere covering of the facts. “What Netflix does is entertainment, not journalism,” he admits.

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