We finally have an update about Liberty Media, the company that owns Formula 1. It's one step closer to adding another racing series to its portfolio—and that is MotoGP.

According to a recent report from Reuters, Liberty Media is likely to receive approval from the European Union’s antitrust regulators to buy Dorna Sports, the company that currently owns MotoGP. The deal is valued at around €4.2 billion, with the final decision from the European Commission expected in the upcoming weeks—hopefully before the July 1st deadline.

Liberty announced last year that it plans to buy 86% of Dorna Sports, while Dorna will keep the remaining 14%. But since Liberty already controls Formula 1, there were concerns about whether owning two of the biggest motorsport properties might give Liberty Media too much power. That’s why the EU antitrust commission stepped in to take a closer look at the deal.

But it looks like the regulators aren’t too worried this time. Unlike back in 2006, when private firm CVC Capital was forced to sell MotoGP in order to buy F1, the EU now seems more relaxed about one company running both series. Luckily, no major changes are expected to be demanded from Liberty Media.

Dorna Sports, based in Madrid and led by longtime CEO Carmelo Ezpeleta, has managed MotoGP and other motorcycle racing series since 1992.

While the European Commission hasn’t officially commented, a Liberty Media spokesperson did share the company’s vision with Reuters, saying:

“There is a very large and growing market for audiovisual entertainment well beyond sports, and the transaction will enhance MotoGP's ability to compete in this highly competitive market.”

If everything goes as planned, this move could bring MotoGP and F1 closer together in how the series are managed, promoted, and experienced by fans worldwide. It’s a big change that could shake things up in a very exciting way.