4 sources
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1y ago

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.

Greg Maffei exits role as CEO of F1 owner Liberty Media
NewsweekNewsweek

Greg Maffei exits role as CEO of F1 owner Liberty Media

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Newsweek
Liberty Media to spin off assets; CEO Greg Maffei to step down at year-end
CNBCCNBC

Liberty Media to spin off assets; CEO Greg Maffei to step down at year-end

CNBC
John Malone Moves to Simplify Empire with Spinoff of Liberty Live
Wall Street JournalWall Street Journal

John Malone Moves to Simplify Empire with Spinoff of Liberty Live

Wall Street Journal
Greg Maffei steps down as CEO of Liberty Media, the company that owns F1
Associated PressAssociated Press

Greg Maffei steps down as CEO of Liberty Media, the company that owns F1

Associated Press

Overview

A summary of the key points of this story verified across multiple sources.

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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