Thursday, September 5, 2013

Report: Liberty’s Malone Thinks About Succession Plan

John Malone
While the Liberty Media chairman John Malone has no plans to retire any time soon, the NYPost is reporting, he has told colleagues recently that he wants to put in place a succession plan for when he eventually steps aside, according to sources familiar with the talks.

The 73-year-old billionaire oversees a far-flung media empire with investments spanning cable, satellite radio and music.

His succession plan could spark a rivalry between the bosses of various Liberty-controlled companies, among them Liberty Media CEO Greg Maffei, who helped engineer the SiriusXM takeover, and Mike Fries, who spearheaded the $24 billion acquisition of Virgin Media.

Malone’s son, Evan, who is an engineer, is also on the boards of several Liberty-controlled companies. It’s unclear if he would be considered a candidate to succeed his father.

Malone’s holdings are split into three stocks: Liberty Media, Liberty Global and Liberty Interactive.

Liberty Media has control of SiriusXM Radio and stakes in Discovery Communications, Live Nation and the recently spun off premium pay-TV business Starz.

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