(FILE PHOTO) US Media Firm Liberty Media is set to buy Formula 1 for $4.4bn/£3.3bn. Bernie Ecclestone is due to remain as chief executive with Chase Carey, vice-chairman of 21st Century Fox to become the new chairman. CENTURY CITY, CA - OCTOBER 16: President, Chief Operating Officer, and Deputy Chairman of News Corporation Chase Carey (L) and Chairman and CEO of News Corporation Rupert Murdoch attend The Paley Center for Media's 2013 benefit gala honoring FX Networks with the Paley Prize for Innovation & Excellence at Fox Studio Lot on October 16, 2013 in Century City, California. (Photo by Kevin Winter/Getty Images)