Liberty Media to spin off unit, CEO to step down

Reuters

2024-11-13

UPDATE 1-Liberty Media to spin off unit, CEO to step down

Recasts with details on spin-off, John Malone

Nov 13 (Reuters) - Liberty Media FWONA.O said on Wednesday it planned to split unit Liberty Live Group into a separate public entity.

The company also said CEO Gregory Maffei will step down from his role at the end of 2024. Chairman John Malone will step in as interim CEO.

Immediately prior to a split, Liberty's subsidiary Quint would be reattributed from the Formula One Group to the Liberty Live Group in exchange for certain private assets.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shounak Dasgupta and Sriraj Kalluila)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800))

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