John Malone to step back from Liberty Global’s media and telecoms empire

Malone built the Liberty empire through decades of dealmaking in the cable and pay-TV industry, earning him the nickname "Cable Cowboy."

Malone made the announcement this week that he is stepping down as Chairman of both Formula 1 owner Liberty Media and of Liberty Global, the group behind telecoms operator Virgin Media O2.

He will become Emeritus Chair of Liberty Media and Liberty Global and remain a controlling shareholder.

At Liberty Global, he will be succeeded as Chair on January 1, 2026, by the company’s Chief Executive Mike Fries, who will perform both roles concurrently.

At Liberty Media, Malone will be succeeded by longtime Director Robert Bennett, currently the group’s vice chair.

In a statement, Malone said: “I’m not retiring from business, but I am looking to reduce travel and time commitments. This transition will allow me to do so while ensuring continuity for the company and its stakeholders.”

The Liberty companies have extensive business interests across the technology, media, and telecoms industries.

Liberty Global has stakes in ITV, Televisa Univision, Plume, EdgeConneX, and AtlasEdge, as well as a controlling interest in the Formula E racing series, while its telecom brands include Virgin Media-O2 in the UK, VodafoneZiggo in The Netherlands, Telenet in Belgium, and Virgin Media in Ireland.

Liberty Media, meanwhile, owns 100% of Formula One, and has stakes in MotoGP owner Dorna Sports and live events operator Live Nation.

Earlier this month, the company sold half of its stake in British broadcaster ITV.

Liberty Media recently announced Derek Chang as its new President and Chief Executive Officer. Discover more here.