4 sources·Business

Greg Maffei Steps Down as Liberty Media CEO Amid Corporate Restructuring

Greg Maffei will resign as CEO of Liberty Media, transitioning to an advisory role as the company prepares a strategic spin-off.

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Updated: Nov 13th, 2024, 4:08 PM ET

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Liberty Media CEO Greg Maffei announced his resignation effective year-end, transitioning to an advisory role. The company is spinning off its assets into two entities: Liberty Media for sports, holding Formula 1 and MotoGP, and Liberty Live for entertainment assets. John Malone will serve as interim CEO. This restructuring aims to enhance shareholder value and simplify corporate structure. Under Maffei’s leadership, Liberty Media saw significant growth, particularly in Formula 1's popularity, aided by Netflix's 'Drive to Survive'. Meanwhile, Liberty remains under U.S. Justice Department investigation over team expansions.

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