F1 owner in talks over China venture to boost market push - sources

FILE PHOTO: Chairman of Liberty Media John Malone attends the Allen & Co Media Conference in Sun Valley, Idaho, U.S., July 12, 2012. REUTERS/Jim Urquhart/File Photo

BEIJING/LONDON (Reuters) - Formula One is in talks with potential Chinese partners to set up a new local venture, four sources have told Reuters, which would help it push deeper into the huge but still nascent China market.

Liberty Media Corp, which took control of Formula one in January last year, had spoken with Chinese firms including Inter Milan owner Suning and La Liga rights holder DDMC to form a joint venture that would help manage business development in China, two of the sources said.