Malone to Step Down as Chairman of Liberty Media & Liberty Global

John Malone, a prominent figure whose influence has profoundly shaped the landscape of the cable television, media, and broadband industries for over five decades, is set to step down as the Chairman of his long-standing holding companies, Liberty Media and Liberty Global. This significant transition marks an upcoming change in leadership for two major global entities, as Malone moves into an emeritus role. The announcement signifies a new chapter for the companies he helped build and for the legendary “cable cowboy” himself.

An Era Concludes: Malone’s Transition to Chairman Emeritus

Effective January 1, 2026, John Malone will transition from his current leadership positions at both Liberty Media and Liberty Global. At Liberty Media, he will step down from the board of directors and assume the role of Chairman Emeritus. Taking the reins as Chairman of the Board will be Robert R. Bennett, often referred to as “Dob” Bennett, who has served as Vice Chairman since January 1, 2025, and boasts a 35-year partnership with Malone. Bennett’s extensive history with Liberty Media includes serving as its President and Chief Executive Officer from 1997 to 2005, following various executive roles since joining as a founding executive in 1991.

Concurrently, Malone will also relinquish his chairman role at Liberty Global, a major European and U.K. telecom operator, also transitioning to Chairman Emeritus. Mike Fries, Liberty Global’s current CEO and Vice Chairman, is slated to succeed Malone as Chairman. Fries has been instrumental as CEO since Liberty Global’s formation in 2005 and was a co-founder of its predecessor.

These upcoming changes follow a similar move earlier this year when Malone, at 84 years old, transitioned to Chair Emeritus of the Warner Bros. Discovery board, effective June 2, 2025, after his term expired at the annual shareholders meeting. In this role, he continues to attend board meetings and offer strategic advice, reflecting a pattern of deliberate succession planning.

The Architect of Modern Media: John Malone’s Enduring Legacy

John Malone’s career is synonymous with the expansion and evolution of the media and telecommunications sectors. Dubbed the “cable cowboy” for his bold and transformative business strategies, Malone’s influence extends over half a century. His leadership as President and CEO of Tele-Communications Inc. (TCI) from 1973 to 1996, and then as Chairman and CEO until its sale to AT&T in 1999, was pivotal in wiring America and establishing the foundations of modern broadband and cable services.

His forthcoming memoir, “Born to Be Wired: Lessons from a Lifetime Transforming Television, Wiring America for the Internet, and Growing Formula One, Discovery, Sirius XM, and the Atlanta Braves,” scheduled for publication on September 2, 2025, offers an insider’s account of these groundbreaking developments. The book delves into how a simple copper strand evolved into a high-speed internet backbone and highlights the strategic thinking behind era-defining mergers, including Warner Bros. Discovery and Live Nation Entertainment. Malone also recounts launching some of television’s first cable networks, such as Discovery, TBS, QVC, and BET.

Liberty Media and Liberty Global: Empires Built and Sustained

Under Malone’s stewardship, Liberty Media and Liberty Global have grown into global powerhouses. Liberty Media’s diverse portfolio is primarily attributed to two tracking stock groups: the Formula One Group, which includes stakes in Formula 1, MotoGP, and Quint, among other investments, and its Liberty Live Group, which encompasses its interest in Live Nation Entertainment.

Liberty Global stands as a world leader in converged broadband, mobile, and video communications. The company delivers next-generation products through advanced fiber and 5G networks, providing millions of connections across several core European markets and the U.K..

Malone’s decision to step down is attributed to a desire to reduce travel and time commitments, a move he feels is appropriate given the successful simplification of the companies’ portfolios and their strong operating positions.

Continued Influence and Future Outlook

Despite stepping down from the chairman roles, John Malone will remain a significant presence within both Liberty Media and Liberty Global. He intends to stay actively engaged as a large shareholder and strategic advisor to the management and boards. His continued involvement ensures that his vast experience and insights will still be accessible to guide the companies forward.

In a statement regarding his transition at Liberty Media, Malone expressed that “Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life.” He further stated his confidence in Dob Bennett, his long-time partner, to lead the company effectively. Robert R. Bennett, in turn, acknowledged Malone’s “extraordinary leadership” and “visionary business leader” legacy.

Similarly, for Liberty Global, Malone reflected on the “tremendous journey” of serving as chairman over two decades, highlighting the outstanding returns for long-term shareholders and the dynamic nature of the industry. Mike Fries also lauded Malone’s impact, noting that their partnership has been the “most rewarding experience” of his career.

FAQ Section

What is the effective date of John Malone’s transition?

John Malone will step down as Chairman of Liberty Media and Liberty Global effective January 1, 2026.

What will be John Malone’s new role at Liberty Media and Liberty Global?

He will transition to the role of Chairman Emeritus at both Liberty Media and Liberty Global.

Who will succeed John Malone as Chairman of Liberty Media?

Robert R. Bennett, the current Vice Chairman, will succeed John Malone as Chairman of Liberty Media.

Who will succeed John Malone as Chairman of Liberty Global?

Mike Fries, Liberty Global’s current CEO and Vice Chairman, will take over as Chairman.

Will John Malone retain any involvement with the companies?

Yes, he will remain actively engaged as a large shareholder and strategic advisor to the management and boards of both companies. He will also continue to attend board meetings and provide strategic counsel in his Chair Emeritus role at Warner Bros. Discovery.

What is the significance of the title “cable cowboy”?

The moniker “cable cowboy” refers to John Malone’s pioneering and often aggressive business strategies that revolutionized the cable television and telecommunications industries over several decades.

Conclusion

John Malone’s decision to step down as Chairman of Liberty Media and Liberty Global marks the end of an extraordinary tenure for one of the most influential figures in modern media. His strategic vision, which transformed the cable industry and laid the groundwork for today’s broadband and digital landscape, leaves an indelible mark. While transitioning to Chairman Emeritus, Malone’s continued involvement as a major shareholder and advisor ensures that his legacy and insights will still contribute to the future direction of these global enterprises. This leadership change heralds a new era, building upon the robust foundations Malone meticulously constructed.