Liberty Media decided to buy F1 because it saw potential amid the sport’s "crisis".
That is the claim of Chase Carey, who has replaced long-time F1 supremo Bernie Ecclestone as the sport’s chief executive.
Asked by the Spanish daily AS why Liberty bought F1, American Carey answered: "Firstly because we believed that formula one, one of the most global sporting events, had entered a great crisis and needed a renewal.
"The second reason is that in the last six years, F1 had lost even economic potential. The sport is also a business and we can help it to grow also on the digital side, which has been forgotten until now."
And so Carey said change is looming for formula one, even though there is no immediate rush.
"We want to respect the history of the sport but always keep searching for new paths," he said.
"My real goals are for 2020. I am more concerned about what this sport will be like in three years rather than in three months."
Carey also responded to recent speculation that Turkey could be set to return to the calendar.
"It’s a good circuit and we have to look carefully at each destination, whether it be the US, Asia or Europe and decide whether to keep 21 races or expand," he said.