Liberty Media: CEO Maffei to Exit as Spin-off Looms

Snack-Sized Version:

Liberty Media prepares for a massive transformation as CEO Greg Maffei announces he will step down at year-end, coinciding with the Liberty Live Group spin-off scheduled for December 15. While the corporate structure shifts, the Formula One Group remains a growth engine, posting $4.04 billion in Q3 revenue. Investors should watch the upcoming leadership transition and split execution closely.

Read the Full Meal:

Liberty Media faces a pivotal moment with the confirmed departure of long-time CEO Greg Maffei at the end of 2025. This leadership shakeup arrives just as the company finalizes the spin-off of its Liberty Live Group (LLYVK), which is scheduled for December 15. Despite the governance uncertainty, the core Formula One asset (FWONA) continues to deliver, reporting an 8.72% revenue jump to $4.04 billion in the third quarter. Wall Street maintains a bullish stance, recently issuing a buy rating with a $110 target. This period marks a definitive end to the current conglomerate era as the entities prepare to trade independently.

Transition and spin-off details

• Capital allocation: The Dec 15 spin-off creates distinct vehicles for Live Nation stakes and Formula One operations.
• Growth drivers: Formula One continues to scale, driving $4.04 billion in quarterly revenue.
• Margins: Liberty Live Group faces near-term volatility as it decouples from the broader portfolio.
• Risks: Maffei’s exit and Malone’s role change create a temporary vacuum in strategic oversight.

Quick links

• Official source: press release / results hub
• IR hub: events & presentations · filings
• Our coverage: Liberty Media Corp Liberty Live Group Stock News Hub

Why this can matter for Liberty holders

• Continuity: The dual exit of Maffei and Malone from active day-to-day control signals a major regime change.
• Cycle timing: The spin-off forces investors to choose between the high-growth F1 asset and the volatile Live Group.
• Multiple support: A $110 price target suggests analysts see value unlocking after the complexity discount fades.

What to watch next

1. Official filing: Look for the final 8-K confirming the spin-off distribution details.
2. Next event: The spin-off execution date is scheduled for December 15.
3. Board / governance / roadmap: Watch for announcements regarding Maffei’s permanent successor.

Mini FAQ

When is the Liberty Live spin-off?
The spin-off is currently scheduled to take place on December 15.

Who is leaving Liberty Media?
CEO Greg Maffei is stepping down at year-end, and John Malone is becoming Chairman Emeritus.