Greg Maffei is stepping down as president and chief executive of Formula 1 owner Liberty Media. The company says the 64-year-old Maffei will leave his role when his contract expires at the end of the year and become an advisor.

Liberty Media announced Wednesday it’s spinning off most assets besides Formula One auto racing into a separate publicly traded company, called Liberty Live, and that CEO Greg Maffei is stepping down at year-end.

Liberty Media said it plans to spin off most of its entertainment assets besides Formula One into a separate, publicly traded entity, and announced that CEO Greg Maffei is stepping down.

The outgoing CEO of Formula One’s owner, Liberty Media, does not think there is “any plan to sell” the racing series, saying it has a “great future.” Liberty announced on Wednesday that Greg Maffei, who has served as its CEO for 19 years, will step down from his role at the end of the year upon the expiration of his contract.

Chairman John Malone will take over the role of interim CEO The post Liberty Media CEO Greg Maffei to Step Down, Charter Acquires Liberty Broadband appeared first on TheWrap.

Liberty Media Corporation announced that it has launched a plan to spin their Live Group, including its stake in Live Nation, into a standalone public company to be known as Liberty Live, Inc. Followi

On Wednesday, Liberty Media, the owner of Formula 1's commercial rights, confirmed they will have a new CEO. Greg Maffei, the current top boss, will step down at the end of 2024. John Malone will take office on an interim basis,