Liberty Media Extends Greg Maffei Contract

Greg Maffei

Liberty Media Corp. Chief Executive Greg Maffei reached an agreement to remain at the helm of the media company through 2019 just days before his prior contract was set to expire, according to The Wall Street Journal.

His previous contract is set to end Wednesday.

A new compensation agreement calls for Maffei to receive an annual base salary of $960,750, increasing annually by 5%, and an annual target cash bonus equal to 250% of the applicable year’s base salary. For 2013, Maffei received a salary of $868,219 and total compensation of $3.57 million, made up mostly of incentive-plan compensation.

Liberty Media’s holdings include a majority stake in SiriusXM Holdings Inc. and full ownership of the entity that owns the Atlanta Braves. Its minority investments include Live Nation Entertainment Inc.

Liberty Interactive has many home-shopping and e-commerce holdings including QVC Inc., CommerceHub and Evite.

In November, Liberty Media said third-quarter revenue and operating earnings improved, reflecting strong SiriusXM results.

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