Derek Chang, CEO of Formula 1 parent Liberty Media, did not mention Apple by name but said Monday that the company is “pretty far along” in talks with a U.S. media rights partner.

Several weeks ago, press reports said Apple had made an aggressive bid on the rights, emboldened by the box office success of Brad Pitt blockbuster F1 : The Movie . The Athletic reported in July that Apple has offered between $120 million and $150 million a year for the rights, significantly more than the roughly $90 million bid of current rights holder ESPN .

“I think it’s been pretty well-documented in terms of the negotiations, we are pretty far along, and we’re pretty happy and comfortable with sort of where we’re going to end up,” Chang said during an appearance at the Goldman Sachs Communcacop

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