Written by Lisa Murimi |
American media mogul and cable television pioneer John Malone is stepping down as chairman of both Liberty Media and Liberty Global, marking the end of an era in the broadcasting and telecommunications industry.
The 84-year-old billionaire, known as the “Cable Cowboy” for his bold deal-making and influence in shaping the modern cable TV landscape, will assume the honorary title of chairman emeritus at both companies.
Liberty Media announced that Robert Bennett, its current vice chairman, will take over as chairman of the board.
Meanwhile, Mike Fries, the long-serving chief executive of Liberty Global, will step into the chair role at that company.
Malone’s decision brings to a close a career spanning over five decades, during which he built one of the most complex and successful empires in the media industry.
Through an array of mergers, acquisitions, and spin-offs, he turned Liberty Media into a powerhouse with major stakes in entertainment and sports, including Formula 1, MotoGP, and other sports investments.
Often described as a financial visionary, Malone was instrumental in the 2022 merger of WarnerMedia and Discovery, which reshaped the global media landscape amid the rapid rise of streaming services.
The deal, which created Warner Bros Discovery, was seen as a direct response to changing consumer habits as cable TV faced fierce competition from digital platforms.
Malone also played a central role in restructuring Liberty Media’s portfolio, including the recent spin-off of certain assets to focus more sharply on its motorsport and entertainment divisions.
His other company, Liberty Global, remains one of Europe’s largest telecommunications firms, providing broadband, video, and mobile services through major brands such as Virgin Media O2 in the United Kingdom and VodafoneZiggo in the Netherlands.
Malone’s influence on the U.S. and global cable industry is widely regarded as transformative. His complex but effective financial strategies earned him both admiration and criticism over the decades, as he expanded his companies’ reach across continents.
Though stepping back from active leadership, Malone’s legacy continues to define the structure and direction of modern media conglomerates.
