On Wednesday Liberty Media revealed plans to spin off the majority of its assets, excluding its Formula One auto racing business, into a new publicly traded entity named Liberty Live. Additionally, the company announced that CEO Greg Maffei at the end of the year will step down from his role.
Liberty CEO Greg Maffei, said, “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.”
He further added, “While it’s never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time.”
As part of the company’s latest restructuring Liberty Media Chairman John Malone is set to assume the role of interim CEO. At 83, Malone’s return to the CEO position marks a strategic move to streamline the company’s operations.
Chris Marangi, Co-CIO of Value at Gabelli Funds, said, “Malone has accelerated the surfacing and simplification of value. Liberty has come a long way in the 20-plus years that it’s been a standalone entity. It’s created enormous shareholder value. We’re in the final act.”
Liberty Media will retain ownership of Formula One, which it acquired in 2016 following the restructuring, and subsequently converted into a tracking stock, along with MotoGP after the completion of that acquisition. Meanwhile, according to an official statement, the newly formed Liberty Live will manage approximately 69.9 million shares of Live Nation Entertainment, as well as sports experience company Quint and various other assets.
Charter Communications, the cable industry giant, will acquire Liberty Broadband in an all-stock deal according to Liberty Media. In September, Liberty Broadband had announced its intent to merge with Charter as part of a strategy to streamline Chairman John Malone’s business holdings. Currently, Liberty Broadband holds a 26% stake in Charter Communications.
Notably, in the latter half of 2025, the separation of Liberty Media and Liberty Live is anticipated to conclude while the acquisition of Liberty Broadband by Charter Communications is expected to be finalized by mid-2027.