LIBERTY MEDIA SPINNING OFF LIVE NATION STAKE

Liberty Media is spinning off its sizable share of Live Nation and stakes in other media assets into a new publicly traded company, Liberty Live, as part of a deal that is expected to close in the second half of 2025.

As part of the move, company chairman John Malone will become interim CEO, replacing Greg Maffei, who will step down at the end of the year.

Meanwhile, Charter Communications is acquiring Liberty Broadband in an all-stock deal.

Liberty Media will still own Formula One, which it acquired in 2016. In 2021, the company sold a 6m share stake in iHeartMedia for $150m.

“Following today’s announcements at Liberty Media and Liberty Broadband, all the Liberty acquisitions completed during my tenure are now in structures where shareholders can have more direct ownership in their upside,” said Maffei, who has been with Liberty since 2005. “While it’s never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time.”