Liberty Global is buying a stake of Formula E from Warner Bros. Discovery , giving the media company controlling interest in the all-electric version of the motorsport. A publicly traded company led by billionaire John Malone, Liberty Global announced Thursday it is in the process of acquiring WBD’s 25% equity in Formula E, which is in its 10th racing season.

The deal means Liberty will own 65% of Formula E. The purchase price of the Warner shares isn’t disclosed, Variety ‘s sibling brand Sportico reported. In a 2021 filing, WBD said its quarter ownership of the circuit was worth $65 million, though that is almost certainly the value of the company’s initial investment in the league, since the filing noted a current fair value wasn’t readily available.

A 2023 U.K. regulatory filing by Formula E Operations, which manages the races, showed revenue of €181.

5 million and a net loss of €15.3 million in the year ending September 2022—about $202 million and $17 million, respectively, at that month’s exchange rate. The deal means two Formula circuits—Formula 1 and Formula E—are now under Malone’s umbrella of Liberty entities.

Liberty Media , a separate publicly traded business, owns Formula 1. Malone, who founded Liberty, controls about 31% of Liberty Global and most of Liberty Media, although an agreement limits Malone’s power to slightly less than half of Liberty Media’ s voting power, according to SEC filings. He is chairman of the board of both compani.