On Wednesday, the company also said it plans to split off the Liberty Live Group.
John Malone, chairman of Liberty Media, will assume the role of interim CEO. Maffei will step down at the expiration of his contract at year-end and will serve as a senior advisor starting Jan. 1 to support the management transition.
“The corporate structure is optimized, and the portfolio companies are in strong positions with talented executive teams in place. While it’s never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time,” the outgoing CEO said. “I have thoroughly enjoyed working alongside and learning from John, our board, the management teams at Liberty and across the family of companies and our shareholders.
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