John Malone, the 84-year-old billionaire “Cable Cowboy,” is stepping down as chairman of Liberty Media and Liberty Global effective January 1, 2026, ending a 50-year reign that built the modern cable and media empires.
Robert R. “Dob” Bennett, a 35-year Malone associate, will succeed him at Liberty Media; CEO Mike Fries will take the chair at Liberty Global.
Malone becomes Chairman Emeritus at both, retains his largest shareholdings, and stays an advisor at Liberty Media.
The move follows portfolio simplification—Liberty Media now centers on Formula 1, MotoGP, Live Nation, SiriusXM, and the Atlanta Braves—and follows Malone’s recent exits to emeritus roles at Warner Bros. Discovery (2025) and Charter (2024).
Malone called the timing ideal, saying of Liberty Media: “With our portfolio simplified and businesses strong, it’s time to step back,” and of Liberty Global: “Never dull and a lot of fun.”
He insists, “I’m not retiring from business,” and will keep personal ventures and Braves ownership.
Successors praised his unmatched legacy; analysts flag possible F1/MotoGP sales. The announcement, made October 29, 2025, is widely called the “end of an era” in media and telecom.