BRUSSELS, Dec 19 (Reuters) - The European Commission

said on Thursday it had opened an in-depth investigation into

the proposed 3.5 billion euro ($3.62 billion) acquisition of

Dorna Sports by Liberty Media ( LLYVB ).

Liberty Media ( LLYVB ) said in April that it would acquire about 86%

of Dorna Sports, the parent company of FIM World Championship

Grand Prix, also known as MotoGP.

The EU said that Liberty owns the exclusive commercial

rights for the FIA Formula One World Championship, while Dorna

Sports holds exclusive commercial rights for MotoGP and other

motorcycle racing championships.

"The Commission's preliminary investigation indicates that

the transaction may reduce competition between Liberty Media ( LLYVB ) and

Dorna Sports in the licensing of broadcasting rights for

motorsports content", the EU said.

Liberty Media ( LLYVB ) said it would work with the EU during the

probe and that it had agreed with sellers to extend the

completion date for the deal to June 30, 2025 in order to

accommodate the investigation. Liberty also said that it

believed the transaction should be approved.

($1 = 0.9657 euros)