John Malone stepping down as chairman at Liberty Global
Billionaire investor John Malone is transitioning to the role of chair emeritus at US cable giant Liberty Global, marking the end of an era for the cable TV pioneer.
Malone, who has been chairman of Liberty Global’s board of directors for 20 years, will step down from the board at the beginning of 2026, with CEO and vice-chairman Mike Fries taking the influential 84-year-old businessman’s place.
In his new role, effective January 1, Malone will continue to provide active counsel and strategic insight to Liberty Global and may attend board meetings, but will not have a formal vote on board matters, the company said.
Following Malone’s resignation, the board will comprise 10 directors, nine of whom will be independent.
Fries has served as CEO since the company’s formation in 2005 and was a co-founder of its predecessor more than 35 years ago. He also currently serves as chairman of Liberty Latin America and Sunrise Communications, two previous spin-offs from Liberty Global.
Earlier this year, Malone moved into the role of chair emeritus at Warner Bros Discovery (WBD) after opting not to stand for re-election to the US media company’s board of directors. Malone was a key architect of the mega-merger that brought together Discover and WarnerMedia to form WBD in 2022. Before that, he was a major shareholder in Discovery.
Liberty Global is a British-Dutch-American multinational telecommunications company domiciled in Bermuda, with headquarters in London, Amsterdam and Denver. Its media portfolio is made up of strategic stakes in companies such as ITV, Lionsgate and Televisa Univision, plus a majority stake in Formula E, and investments in funds such as Powerhouse Capital, Redbird Capital Partners and Raine.
It recently halved its holding in ITV, selling 193.4 million shares for around £135m (US$179m) and reducing its stake in the commercial broadcaster from roughly 10% to about 5%. This made independent investor Redwheel ITV’s largest shareholder, with approximately 6% of the company.
Malone said: “Serving as chairman of Liberty Global over the past 20 years has been a tremendous journey. From our early investments to the creation of Liberty Global and the many chapters that followed, the return to long-term shareholders has been outstanding– and getting there has been, like the industry itself, never dull and a lot of fun.”
“I have complete confidence in Mike to continue guiding the company forward, as he’s done over the past two decades. He and I have always seen eye-to-eye on how best to create value for shareholders, and I will remain one of Liberty Global’s largest.”
Fries added: “On behalf of our board, our 30,000 employees and our global network of customers, suppliers and partners, I want to thank John for his tremendous contributions to Liberty Global and for agreeing to remain engaged as we continue to unlock value for shareholders.”
