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Mergers Liberty Media/Dorna Sports referred to phase II The Commission has referred the proposed acquisition of Dorna Sports by Liberty Media (M.11539) to phase II. Liberty Media and Dorna Sports are international media companies. Liberty owns the Formula One Group and holds the exclusive commercial rights for the FIA Formula One World Championship. Dorna Sports holds the exclusive commercial rights for the FIM World Championship Grand Prix (MotoGP), as well as other motorcycling racing championships. At phase I, the Commission raised concerns that the deal could lessen competition between the parties regarding the licensing of broadcasting rights for motorsports content. In particular, the transaction could remove important competitive constraints on Liberty Media and Dorna Sports, strengthening their position in relation to broadcasters of motorsports content and, ultimately, potentially leading to higher prices...