|Red Bull expands into broadcasting|
(GMM) Red Bull has now entered the world of Formula 1 broadcasting.
Already an owner of two teams and the promoter of the Austrian GP, it has now been confirmed that Red Bull-owned Servus TV will keep Formula 1 on free-to-air television in Austria.
The broadcaster will share the coverage with existing F1 broadcaster ORF, with each covering half of the grands prix and both showing the annual race at the Red Bull Ring.
The deal runs from 2021 to 2023.
"We are proud of this Formula 1 agreement and we will do everything we can to write another success story in Austrian motorsport," said Servus TV director Dr Ferdinand Wegscheider.
"The cooperation with ORF makes economic sense and guarantees that Formula 1 fans can see all races live on free television."
ORF's Dr Alexander Wrabetz added: "It is an economically challenging time for ORF, so this shared agreement guarantees that Formula 1 will remain an integral part of our offering while also complying with the economic requirements."