Liberty Media CEO Greg Maffei Steps Down

Liberty Media's longtime CEO Greg Maffei will step down at the end of 2024, transitioning to a senior advisory role, while Chairman John Malone will take over as interim CEO. This leadership change comes alongside a corporate reorganization, including a planned spin-off of Liberty Live Group, which holds a significant stake in Live Nation Entertainment. Under Maffei’s 19-year leadership, Liberty Media experienced substantial growth and strategic acquisitions, including prominent companies like SiriusXM and Formula 1, achieving a 17% annual growth rate in its composite value. Maffei will continue to serve in various leadership roles within Liberty's portfolio, including as chairman of Qurate Retail and Liberty TripAdvisor. Malone praised Maffei's contributions, noting the company's simplified structure and enhanced shareholder value. The changes reflect Malone’s efforts to adapt the company as he approaches his 80s and to position it for future success.