There had been speculation the BBC would pull out of the sport altogether for financial reasons but they will still show half the races and qualifying sessions live, including the British and Monaco Grands Prix, and cover the others via a highlights programme.
Sky will double up on the races shown by the BBC and also screen the others exclusively live. BBC Radio Five Live‘s coverage remains unchanged.
In announcing the deal, which runs from 2012 to 2018, Barbara Slater, director of BBC Sport, said: “We are absolutely delighted that F1 will remain on the BBC.
“The sport has never been more popular with TV audiences at a 10-year high and the BBC has always stated its commitment to the big national sporting moments.
“With this new deal not only have we delivered significant savings but we have also ensured that through our live and extended highlights coverage all the action continues to be available to licence fee payers.”
Barney Francis, managing director of Sky Sports, said: “This is fantastic news for F1 fans and Sky Sports will be the only place to follow every race live and in HD.
“We will give F1 the full Sky Sports treatment with a commitment to each race never seen before on UK television.
“As well as unrivalled build-up to each race on Sky Sports News, we will broadcast in-depth live coverage of every session.”
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