Greg Maffei is stepping down as Liberty Media CEO at the end of 2024. John Malone will assume the role of interim CEO.

This week the company said it plans to split off the Liberty Live Group, which would be comprised of 69.6 million shares of Live Nation Entertainment and Quint, among other assets. The split off would make Liberty Media, which would hold its subsidiaries Formula 1 and MotoGP, and Liberty Live, into separate publicly traded companies, and Liberty Media would no longer have a tracking stock structure.

“The almost 20 years I have spent at the helm of Liberty Media have been incredibly rewarding, stimulating and endlessly eventful. Following today’s announcements at Liberty Media and Liberty Broadband, all the Liberty acquisitions completed during my tenure are now in structures where shareholders can have more direct ownership in their upside,” commented Maffei.

“The corporate structure is optimised, and the portfolio companies are in strong positions with talented executive teams in place. While it’s never easy to leave an organisation as dynamic as Liberty, I am confident that this is the right time,” the outgoing CEO added. “I have thoroughly enjoyed working alongside and learning from John, our board, the management teams at Liberty and across the family of companies and our shareholders.”

“On behalf of the Liberty Media board, I’d like to thank Greg for his leadership, creativity and dedication,” said Malone. “Since joining in 2005, Greg has been at the forefront of the exciting evolution in the lifecycle of Liberty. He has grown our asset base and made the company better and more valuable for shareholders, along the way overseeing as many as five separate public companies simultaneously. Especially following today’s transaction announcements, our company is simpler and more focused than ever before, which is a perfect capstone for Greg’s accomplished career at Liberty. I wish Greg continued success as he embarks on his next chapter and appreciate his continued support as an Advisor.”

“Looking ahead, I am acutely focused on rationalising the structural discounts at Liberty Media and growing our attractive, cash generative businesses. We have built a fantastic company with high-quality assets in media, communications, sports and entertainment. I look forward to working with our executive team to uncover new opportunities for shareholder value creation,” Malone concluded.

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Tags: f1, Greg Maffei, John Malone, Liberty, Liberty Global