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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