CVC: F1 currently not for sale

F1's owner CVC Capital Partners has confirmed that Rupert Murdoch's News Corporation and the Ferrari-linked Exor company have made a "friendly" approach.

News Corp and Exor SpA, controlled by the Agnelli family and with a significant shareholding in Ferrari parent Fiat, confirmed jointly on Tuesday that they are "formulating a long-term plan for the development of Formula One".