Formula One Ecclestone has dismissed speculation that Rupert Murdoch's News Corp are set to launch a bid to buy the sport. According to Sky News, Murdoch has been in talks with the Mexican billionaire Carlos Slim, and people connected to a leading F1 team - widely conceived to be Ferrari - about forming a consortium. Up for sale? Murdoch's News Corp are reportedly interested in buying Formula One Up for sale? Murdoch's News Corp are reportedly interested in buying Formula One F1 is currently owned by private equity group CVC Capital Partners, and they are said to be unaware of any bid. But the sport could yet come up for sale in the next 18 months with NewsCorp expressing a major interest. Ecclestone however, who runs the sport on behalf of CVC, told the Daily Telegraph: 'It's rubbish. The sport is not for sale.' A failed bid to acquire F1 could prompt NewsCorp to launch an attempt to buy the television rights. The BBC currently has the rights to broadcast Formula One until the end of 2013 on a £40million a year deal. But BBC bosses are keen to slash their budget, and despite it's high popularity, they are unlikely to renew their contract. F1 is not on the list of events that has to be shown on terrestrial TV and BSkyB, who are 39 per cent owned by News Corp, are said to be very serious about acquiring the rights. Any such move would mark the first time Formula One has not been screened on free-to-air TV in Britain.