(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 attends 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)