John Malone Steps Down as Liberty Media Chairman, Robert Bennett Named Successor

John Malone, the influential American billionaire and cable pioneer, will step down as chairman of Liberty Media at the start of next year, marking a significant transition for the media conglomerate that holds commercial rights to Formula 1 and MotoGP. Malone, 84, will be succeeded by his longtime associate, Robert R. "Dob" Bennett, and will assume the honorary title of chairman emeritus.

Why it matters:

Malone's departure signifies the end of an era for Liberty Media, which he built into a global sports entertainment powerhouse. His aggressive expansion strategy, particularly in motorsports, has dramatically reshaped the F1 landscape and cemented Liberty Media's position as a dominant force in premium live sports content. The transition to Bennett aims to ensure continuity while navigating the future of these high-value assets.

The details:

• Leadership Change: John Malone, founder of Liberty Media, will transition to chairman emeritus. Robert R. "Dob" Bennett, a long-standing board member and former president/CEO, will assume the chairman role.
• Motorsports Dominance: Under Malone's stewardship, Liberty Media acquired Formula 1 in 2017, leading to explosive growth fueled by enhanced broadcasting and the Netflix docuseries Drive to Survive. More recently, Liberty Media acquired Dorna, the parent entity of MotoGP, further solidifying its presence in motorsports.
• Malone's Statement: "Founding Liberty Media and serving as its chairman has been among the most rewarding experiences of my professional life," Malone stated, expressing confidence in Bennett's leadership. He will remain actively engaged as a large Liberty shareholder and strategic advisor.
• Bennett's Role: Bennett, a Liberty Media board member since 1994 and former president and CEO (1997-2005), will join an executive committee alongside current president and CEO Derek Chang and former F1 chief Chase Carey.

What's next:

The leadership change comes amidst a streamlined corporate structure, with the aim of ensuring continuity in Liberty's ambitious push to capitalize on the surging global appetite for motorsports. Malone's continued involvement as a major stakeholder suggests sustained confidence in the company's trajectory under Bennett's new guidance, ensuring that Liberty Media's influence in F1 and MotoGP is likely to continue growing.