Colorado-based company buys motorcycle racing circuit [Video]

DOUGLAS COUNTY, Colo. — Douglas County-based Liberty Media Corp. has secured the necessary funding to acquire 86% of MotoGP, a motorcycle grand prix league, in a deal worth $4.5 billion, the company announced during its quarterly earnings call.

Liberty Media, which owns a stake in Live Nation and the Formula 1 car racing circuit, said it expects its purchase of MotoGP to cross the finish line by the end of the year.

The company also announced “making progress” with the European Commission to complete the deal, the only remaining regulatory hurdle to closing the transaction.

To help finance that, Liberty Media refinanced one of its loan and extended the maturities of two Formula One Group term loans, setting Term Loan A and the revolving credit facility to mature in September 2029 …