Greg Maffei, CEO of Liberty Media during practice ahead of the F1 Grand Prix of Monaco at Circuit de Monaco on May 24, 2024 in Monte-Carlo, Monaco.sliding in as interim CEO. Starting Jan. 1, Maffei will serve as a senior advisor for the company, aiding in the changeover amid a planned spin-off of its live entertainment assets into a new, publicly traded business.
The announcement of Maffei’s departure coincides with Liberty’s disclosed plans to spin off its Liberty Live Group — consisting of Liberty’s 30% stake in Live Nation and its minority interest in other companies like Kroenke Arena Company — into a separate public entity. Before the split, Liberty Media’s subsidiary Quint will be reattributed from its Formula One Group to the Liberty Live Group in exchange for private assets and cash consideration determined later.