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The importance of sources

Back in September a Formula One website wrote an article entitled 'Big picture thinking about F1' which came to a rather remarkable conclusion. The piece was based on a rumour doing the rounds that F1's controlling shareholder, the private equity firm CVC, was working on a bid for marketing firm IMG. According to the rumour, CVC was planning the bid in conjunction with the Abu Dhabi Investment Authority (ADIA) and Bahrain's Mumtalakat sovereign wealth fund, which owns 50% of McLaren. It was one of many rumours floating around in financial circles and, unless it came to anything, or the key players were prepared to talk about it, there was little point in reporting it. The website in...
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