John Malone Resigns as Chair of Liberty Media and Liberty Global

Irish-American billionaire John Malone has announced his decision to step down as chair of his extensive media and telecommunications empire, which includes Virgin Media in Ireland. The news, reported by the Financial Times, marks a significant transition for Malone, aged 84, who has played a pivotal role in shaping the industry during a period of deregulation that began in the 1980s.

Malone’s career took off when he was appointed to revitalize Tele-Communications Inc. (TCI), a US cable television company, in his twenties. His leadership culminated in a historic sale to AT&T in 1998 for an astounding $48 billion (approximately €39 billion). Following this, he established Liberty Global, which has grown to become the largest international cable company in the world, encompassing high-profile assets such as the Formula One racing series and concert promoter Live Nation Entertainment.

Malone, often referred to as the “Cable Cowboy,” has also become the largest private landowner in the United States. He and his wife, Leslie Malone, are committed to conserving their approximately two million acres of land, emphasizing the importance of maintaining these areas as open space for future generations. Malone remarked, “We’re big into conservation. Our biggest push right now is to make sure that the, give-or-take, two million acres we own are going to be kept open.”

While Malone was not widely recognized in Ireland before the financial crisis, he emerged as a key investor during the recovery period. His company, Liberty Global, acquired Virgin Media in 2013, enhancing its presence in the Irish market. In addition, Malone has invested in a range of Irish hotels, partnering with local operators to establish the MHL Hotel Collection, which includes several high-profile properties such as the College Green Hotel and the InterContinental Dublin.

His portfolio in Ireland also boasts prestigious assets, including Castlemartin Stud, a historic Georgian estate in County Kildare, and Humewood Castle in County Wicklow. Notably, Malone revealed in his recent autobiography that he declined an offer from Mark Zuckerberg for Castlemartin.

Despite his retirement from these leadership roles, Malone will continue to manage his personal venture capital portfolio and maintain his stake in the Atlanta Braves baseball team. The Financial Times indicates that Malone’s departure was anticipated; he previously resigned from the board of Warner Bros Discovery earlier this year. In May, Charter Communications, the largest cable provider in the US, announced a merger with Cox Communications.

Liberty Global remains active in the market, recently selling a 5 percent stake in ITV and negotiating a five-year deal with Apple for exclusive television rights to Formula One races in the US. The financial terms of the Apple agreement have not been disclosed.

Malone’s retirement signifies the end of an era for a figure who has significantly influenced the global media landscape. As he steps back from his executive roles, the industry will be watching how his legacy continues to unfold through the companies he built and the investments he made.