http://www.independent.co.uk/sport/m...-10134493.html
“If staging grands prix are all about the almighty dollar rather than the fans, then it will go to those countries that put up the cash to support them. We have seen the circuit expand to Russia and Bahrain, while Qatar will probably become involved. These are nations that put cash up front.”
- Patrick Allen, GM of Silverstone, as quoted in the Independent, 25th Mar 2015

Everyone looks at the success of football and the deals that were nutted out at the creation of the Premier League and very quickly forget that before 1989, football was an almost non-existent thing on telly.

Formula One on telly in the early 1990s was mainly on free-to-air across Europe and it was then that pay-TV networks eyed the potential for monetisation; which is where we are now.
The BTCC remains on free-to-air because they'd rather been seen by eyeballs than cashed up subscribers. Formula One though, would rather shake its viewers upside-down until the cash falls out of their pockets.

Prediction:
Italy will go by 2017.
Formula One will die the same death that Indy Car did, in 2020.

Bernie will still be happy though.