John Malone, “cable cowboy,” steps down as Liberty Media chair after over 30 years. Vice chair Dob Bennett to take over in 2026. Malone will be chairman emeritus. Stock down, but up 34% YTD. Malone built Tele-Communications Inc. in the 70s, sold to AT&T for $50B, now leads Formula One.

Malone known for aggressive dealmaking and media acquisitions. Will remain a significant Liberty shareholder, strategic adviser. In September, Malone discussed media consolidation and his new book, “Born to Be Wired.” Vice chair Bennett has been with Liberty since 1991, previously president and CEO.

Malone’s departure marks end of an era at Liberty Media. Bennett praises Malone’s visionary leadership. Stock prices fluctuate. Malone’s legacy as a business leader recognized. Malone’s influence on media industry lasting. New chapter for Liberty Media with Bennett at the helm.

Read more at Yahoo Finance: John Malone steps down as Liberty Media chairman