{"id":125487,"date":"2024-11-13T21:10:27","date_gmt":"2024-11-13T14:10:27","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125487"},"modified":"2024-11-13T21:10:27","modified_gmt":"2024-11-13T14:10:27","slug":"liberty-media-to-spin-off-assets-ceo-greg-maffei-to-step-down-at-year-end","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125487","title":{"rendered":"Liberty Media to spin off assets; CEO Greg Maffei to step down at year-end"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-102687405\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>John Malone, Liberty Media<\/p>\n<p>Scott Eells | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><a id=\"107282346\" href=\"https:\/\/www.cnbc.com\/quotes\/\" type=\"security\" brand=\"cnbc\" section=\"[object Object]\" contentclassification=\"\">Liberty Media<\/a> announced Wednesday it&#8217;s <a href=\"https:\/\/www.libertymedia.com\/news\/detail\/550\/liberty-media-corporation-announces-plan-to-split-off\" target=\"_blank\" rel=\"noopener\">spinning off most assets<\/a> besides Formula One auto racing into a separate publicly traded company, called Liberty Live, and that CEO Greg Maffei is <a href=\"https:\/\/www.libertymedia.com\/news\/detail\/549\/greg-maffei-to-step-down-as-liberty-media-ceo-at-year-end\" target=\"_blank\" rel=\"noopener\">stepping down at year-end.<\/a><\/p>\n<p>Chairman John Malone will become interim CEO of Liberty Media. Liberty Media&#8217;s investor day is set to take place on Thursday in Manhattan.<\/p>\n<p>After the split, Liberty Media will hold Formula One, which Liberty acquired in 2016 and later spun out as a tracking stock, and MotoGP, upon the closing of that transaction. Liberty Live will hold roughly 69.9 million shares of Live Nation Entertainment, Quint and certain other private assets, according to a release.<\/p>\n<p>The company also announced cable company <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/CHTR\/\">Charter Communications<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> would acquire Liberty Broadband in an all-stock transaction. In September, Liberty Broadband went public with its aspirations to merge with Charter, in a move to simplify Malone&#8217;s portfolio. Liberty owns 26% of Charter shares. <\/p>\n<p>&#8220;The split-off of Liberty Live Group into a separate public entity will simplify Liberty Media&#8217;s capital structure, should reduce the discount to net asset value of our Liberty Live stock and enhance trading liquidity at both entities,&#8221; Maffei said in a release. <\/p>\n<p>Maffei has been part of Liberty since 2005 and has various positions on boards of the company&#8217;s assets, including Charter. <\/p>\n<p>Malone is a pioneer of the cable industry, long known as the &#8220;cable cowboy,&#8221; and has kept his hand in various media assets over the years. He&#8217;s been an independent director of Warner Bros. Discovery \u2014 initially through Discovery, before the company merged with Warner Bros., under his advisement. <\/p>\n<p>He&#8217;s chairman of the board of Liberty Media, Liberty Broadband and Liberty Global. While Malone, 83, has remained an active investor and talking head in the industry, it&#8217;s notable that he is taking over as interim CEO of Liberty Media.<\/p>\n<p>A stealthy dealmaker, Malone is known for shrewd financial transactions and spinning out his companies into tracking stocks.<\/p>\n<p>Malone infamously ran and built the cable empire TCI in the 1970s. He sold TCI to AT&amp;T in 1999 for roughly $50 billion.<\/p>\n<p><em>This is breaking news. Please check back for updates.<\/em> <\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/13\/liberty-media-to-spin-off-assets-ceo-greg-maffei-to-step-down-at-year-end.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>John Malone, Liberty Media Scott Eells | Bloomberg | Getty Images Liberty Media announced Wednesday it&#8217;s spinning off most assets besides Formula One auto racing into a separate publicly traded &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125487\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-125487","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125487"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125487\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}