Red Bull founder and Formula 1 team owner Dietrich Mateschitz has performed a complete u-turn and decided to not shut down his private television channel ServusTV.Mateschitz had earlier announced the closure of the station from the end of June, citing "unbearable" running costs, amounting to more than 100 million euros...

Red Bull founder and Formula 1 team owner Dietrich Mateschitz is to pull the plug on his private television channel ServusTV by the end of June.Mateschitz has cited the financial burden of running the station as "unbearable" after spending a minimum of 100 million euros ($115m) per year since it...