The EU's anti-trust authorities have been investigating the situation for the last two years after the International Automobile Federation (FIA) had agreed to sell its TV rights for the next 100 years to F1 supremo Bernie Eccelstone's company Formula One Administration (FOA) which markets the sport's broadcasting initiatives.
In a prepared statement, the European Commission commented: "The parties involved agreed to make changes which limit the FIA to a regulatory role, to prevent conflict of interests and remove commercial restrictions put on circuit owners and TV broadcasters."
The investigation began after a complaint from German TV group AETV over the relationship between FIA and Eccelstone.
As part of the compromise, the FOA will now reform its rights-selling procedures and cancel clauses that penalised broadcasters for buying up TV rights of competing motor sport franchises such as Premier1 Racing.
