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 companies.