John C. Malone, the long-serving Chairman of Liberty Media Corporation, will step down from the board of directors effective January 1, 2026. He will transition to the role of Chairman Emeritus. Robert R. (“Dob”) Bennett, currently Vice Chairman, will take over as Chairman of the Board.
Malone commented on his decision: “Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life. With the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the Chairman role. Dob has been involved in all key decisions throughout Liberty Media’s history, and I am confident that Liberty is well-positioned for the future. I look forward to remaining actively engaged as a large Liberty shareholder and a strategic advisor to our management and Board.”
Bennett expressed appreciation for Malone’s leadership: “I want to thank John for more than three decades of partnership and mentorship. His legacy as a visionary business leader is without parallel and I am deeply grateful for his confidence. I speak for the entire Board in thanking John for his extraordinary leadership as our Chairman and for his continuing engagement as Chairman Emeritus.”
Derek Chang, President and CEO of Liberty Media, also acknowledged Malone’s contributions: “I share Dob’s respect and appreciation for the privilege of working with John over the years and for the platform he built in Liberty. We look forward to continuing to benefit from John’s partnership as a strategic voice and advisor as we pursue long-term value creation at Liberty Media and focus on sustained growth in our high-quality portfolio of assets.”
Bennett has served as Vice Chairman since January 1, 2025. He has been a director since 1994 and part of the Executive Committee for over 15 years. Previously, he was President and CEO from 1997 to 2005 after joining Liberty Media in 1991 as one of its founding executives.
After Malone steps down, Liberty Media’s board will consist of eight directors—five classified as independent—effective January 1, 2026. The Executive Committee will include Bennett (Chairman), Derek Chang (President & CEO), and Chase Carey.
As reported by August 31, 2025 filings, Malone holds significant voting power through ownership stakes across various classes of Formula One Group common stock (about 49.5% voting power) and Liberty Live Group common stock (about 48.9% voting power).
Liberty Media plans a conference call regarding third-quarter results on November 5 at 10:00am E.T., followed by its annual Investor Meeting webcast on November 20 at approximately 12:30pm E.T.; registration details are available at https://www.libertymedia.com/investors/news-events/ir-calendar.
Liberty Media operates interests across media, sports, and entertainment sectors via two tracking stock groups: Formula One Group—which includes subsidiaries such as Formula 1—and Liberty Live Group—with interests including Live Nation.
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