In 2000, a German new media company called EM.TV — which had just bought the Jim Henson Company and the Muppets — bought 75% of F1 from Hellman & Friedman at the peak of dot-com madness. EM.TV loaded up on debt, the bubble burst, the company went bankrupt, and F1 ownership transferred to the debt holders: BayernLB, JPMorgan, and Lehman Brothers. You can't make this up.