Netflix is currently in a fierce bidding war to secure the exclusive streaming rights for Formula One (F1) races in the United States. The streaming giant aims to expand its portfolio into live sports and events, a move that could significantly boost its subscriber base. The rights are estimated to be worth around $5 billion. This strategic acquisition would mark a significant shift for Netflix, traditionally known for its on-demand content, into the lucrative and competitive realm of live sports broadcasting.
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