In today’s CEO Daily: Diane Brady reports on F1’s impressive rise from the Las Vegas Grand Prix.
The big story: Hope builds for a Ukraine peace plan.
The markets: Up in the U.S. and Europe; down in Asia.
Plus: All the news and watercooler chat from Fortune.
Good morning. If F1 has suddenly appeared on your radar over the past few years, it’s due to a few factors: Liberty Media, team CEOs like McLaren Racing’s Zak Brown, consumer shifts, and the increasing role that sports play in corporate marketing. Liberty Media acquired Formula 1 racing from a consortium of investors in 2017 at a valuation of $8 billion and has since tripled that value through partnering to create U.S. races, Netflix’s Formula 1: Drive to Survive series, an F1 movie, the F1 Academy woman’s circuit, fashion, influencer marketing and broadcast reach that will further expand with an Apple partnership next year.
