Greg Maffei to Step Down as CEO of F1 Owner Liberty Media

Maffei to Remain as Chairman of Liberty Media

Liberty Media Corporation announced on Tuesday that Greg Maffei will step down as Chief Executive Officer of the company. Maffei will remain as Chairman of the Board of Directors and will continue to play an active role in the strategic direction of the company. John Malone, Liberty Media's controlling shareholder, will become Executive Chairman, and Greg Blight will become the new CEO effective immediately.

Maffei's Accomplishments as CEO

During his tenure as CEO, Maffei oversaw Liberty Media's acquisition of Formula One, the premier motor racing series. He also led Liberty Media's investments in SiriusXM and Live Nation Entertainment. Maffei is credited with transforming Liberty Media from a small tracking stock company into a global media and entertainment conglomerate.

New Leadership for Liberty Media

John Malone, the billionaire investor who controls Liberty Media, will become Executive Chairman. Malone is a legendary figure in the media industry and was instrumental in the creation of Liberty Media. Greg Blight, the new CEO, has been with Liberty Media since 2008 and most recently served as Chief Operating Officer.

Liberty Media's Future

Under Malone and Blight's leadership, Liberty Media is expected to continue its focus on growing its live events and entertainment businesses. The company is also expected to explore new opportunities in streaming and digital media. Liberty Media's ownership of Formula One is seen as a key asset for the company, and it is likely to remain a major focus in the years to come.

The transition in leadership at Liberty Media is a significant development, and it will be interesting to see how the company evolves under Malone and Blight's leadership. Liberty Media is a major player in the media and entertainment industry, and its future success will be closely watched by investors and industry observers alike.