12:35 PM EST, 12/19/2024 (MT Newswires) -- Liberty Media ( LLYVB ) (FWONA, FWONK, LLYVA, LLYVK) said Thursday that European regulators are to probe its planned acquisition of motorcycle championship series MotoGP.

The company said it had received notice from the European Commission on the opening of a phase II investigation into the previously announced purchase.

The company said it had agreed with the sellers to extend the longstop date of the acquisition to June 30, 2025, to accommodate the more in-depth investigation.

"We believe that the European Commission will conclude that the transaction should be approved," the company said in a statement.

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