Red Bull team principal Christian Horner, who is close to 85-year-old Mr Ecclestone, has been tipped in the past as his possible successor.
Mr Ecclestone, who owns a 5.3% stake, met with CVC co-chairman Donald Mackenzie and Daimler chief executive Dieter Zetsche, whose company owns the Mercedes team, at the Italian Grand Prix in Monza on Sunday. Mr Ecclestone declined to comment about the sale.
The potential takeover by Liberty Media was met with cautious optimism in F1 circles.

CVC has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years.
The domination of the Red Bull and now Mercedes teams has made races more predictable. Mercedes team has won 13 of 14 races this season.
Given that Liberty is a media and entertainment group, analysts hope it will give more consideration to the spectacle offered by F1.
Mercedes team chief Toto Wolf said: "If there is an investor that wants to buy the shares it is good news for Formula One. Maybe it is good news that an American media company buys Formula One. There are things we can learn from the American way, particularly in digital areas."

Participants at the G20 summit met in the Chinese city of Hangzhou for the second day of talks on Monday.

The leak earlier this year of the Panama Papers, a massive trove of documents on tax havens, shed light on the issue of global tax evasion and avoidance.

Japanese Prime Minister Shinzo Abe was expected to stress the importance of building an international taxation framework to prevent such practices.

Abe was also expected to offer support to countries attempting to crack down on corruption.

The Prime Minister is believed to have said corruption by public officials encourages terrorism and crime, and hinders economic growth.

The leaders will use the afternoon session to address terrorism and refugee issues as well as over-production of steel by China.

The meeting will close on Monday evening with a joint declaration.

Organic light-emitting diode TVs use next-generation panels containing organic compounds that produce their own light. Not only do the TVs produce clearer colors than liquid crystal display varieties, they also boast higher image refresh rates.

But OLED TV panels are difficult to mass-produce, with a limited number of suppliers. Last year only 335,000 of the TVs hit the market worldwide. More than 90% were produced by South Korea's LG Group.

Panasonic will combine panels procured from LG with its own image-processing technology, including image processors developed in-house. Scenes will be more crisp and detailed than conventional OLED TVs owing to the deeper blacks, the company said. To accomplish that, Panasonic is leveraging the expertise it built up with plasma TVs.

The Japanese launch of 55-inch and 65-inch TVs is slated for April at the soonest, followed by Southeast Asia and Latin America. At Japanese volume retailers, LG Electronics Japan's newest 55-inch OLED TV sells for roughly 470,000 yen ($4,500) and the 65-inch model costs around 900,000 yen.

Panasonic's 55-inch TV will likely be priced at about 500,000 yen. The Japanese manufacturer plans to justify the premium over the South Korean rival by playing up advantages like better picture quality.

Panasonic rolled out a 65-inch model in Europe last October with a sticker price of 9,999 euros ($11,160). The company will gradually add new markets while incorporating OLED TVs as a core product category along with LCD sets.

Panasonic's TV business posted its first profit in eight years for the fiscal year ended in March. Before then, massive red ink led the company to pull out from North America and China, among other structural reforms. Panasonic is aiming to sell some 6.4 million units worldwide this fiscal year, which is still 60% below the fiscal 2010 peak. The company is currently revolving its television business around 4K LCD models, with commercialization of higher-definition 8K TVs also in sight.

The park made the announcement on the Chinese micro-blogging site Weibo
The bridge can accommodate 8,000 visitors a day but the spokesman told CNN that 10 times as many people wanted access daily.
Officials at the park announced the closure in a post on the Chinese micro-blogging site, Weibo.
They did not mention visitor numbers but said the government urgently needed to upgrade the area.
The post said that tour groups who had planned to see the bridge over the weekend might have "discretionary admission".
In response to the announcement, one social media user wrote: "I have booked everything and now you are saying you are closed... Are you kidding me?"

“We have experienced hacking attempts every day for three weeks. It happens all the time and is very annoying,” Niggli said.

WADA has a “pretty good suspicion” that Russians are responsible, Niggli said, adding that the hackers involved are “well known to Western authorities.”

But Russia’s targeting of WADA extends beyond hacking.

“Russia is threatening us and our informers” he said. The attacks include bugging homes and stealing personal property.

According to Niggli, constructive relations with Russian authorities can only be achieved once Russia “stops seeing us as an enemy and recognizes it has a problem which needs to be solved jointly.”

Russian whistleblower Yulia Stepanova, whose testimony to WADA was a key element of its report into Russian doping, said in August that she feared for her life after WADA announced hackers had broken into her personal WADA online account.

Stepanova, in hiding with her family in the United States, claimed the hack was was motivated by a desire to discover her exact location. She has subsequently changed locations, she told journalists during a conference call. “If something happens to us then you should know it is not an accident.”

Over 100 Russian athletes were banned from competing at this summer’s Olympic Games following WADA's investigations into state-sponsored doping throughout Russian sport.