Formula One Group

Formula One’s media rights value in Austria has continued to rebound after the open-wheel racing series struck a three-year extension to its free-to-air agreement with ServusTV.

Both deals are sublicensing agreements with pay-television operator Foxtel, which holds exclusive rights in Australia to both championships.

China Telecom's six-race deal in 2022 could lead to a longer-term deal from 2023 onwards, as talks with F1 are understood to be ongoing.

Ian Holmes, director of media rights at F1, said that Sky came into the talks “from a position of strength” based on its track record as a broadcast partner.

Formula One will significantly increase its media rights income from Brazil over the next three years thanks to strong competition resulting in a lucrative deal with Rede Bandeirantes.