John Malone to step down as Liberty Media chairman in 2026

Liberty Media Corporation (NASDAQ: FWONA, FWONK, LLYVA, LLYVK) announced that John C. Malone will step down from the board of directors and transition to Chairman Emeritus effective January 1, 2026. Vice Chairman Robert R. Bennett will assume the role of Chairman of the Board.

Malone has served as Chairman of Liberty Media since its founding. Bennett has been Vice Chairman since January 1, 2025, and a director since 1994. He previously served as the company's President and CEO from 1997 to 2005.

"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," Malone said in the announcement.

Following Malone's resignation, the Board will consist of 8 directors, 5 of whom will be independent. The Executive Committee will comprise Bennett, President and CEO Derek Chang, and Chase Carey.

As of August 31, 2025, Malone beneficially owns approximately 49.5% of the voting power of Formula One common stock and 48.9% of the voting power of Liberty Live common stock through various share classes.

Liberty Media operates through two tracking stock groups: the Formula One Group, which includes Formula 1, MotoGP, and Quint, and the Liberty Live Group, which includes the company's interest in Live Nation and other investments.

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