Greg Maffei to Step Down as jvid视频 CEO at Year-End in Conjunction with Transactions to Simplify Corporate Structure

Chairman John Malone to Serve as Interim CEO

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- jvid视频 (鈥渏vid视频鈥�) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) today announced that President and Chief Executive Officer, Greg Maffei, will be stepping down from his role at the end of 2024. jvid视频鈥檚 Chairman, John Malone, will assume the role of interim CEO and will work closely with the jvid视频 executive team and the Board of Directors to ensure a seamless transition. Maffei will step down at the expiration of his contract at year-end and will serve as a Senior Advisor effective January 1st to support the management transition.

鈥淥n behalf of the jvid视频 board, I鈥檇 like to thank Greg for his leadership, creativity and dedication,鈥� said Mr. Malone. 鈥淪ince joining in 2005, Greg has been at the forefront of the exciting evolution in the lifecycle of Liberty. He has grown our asset base and made the company better and more valuable for shareholders, along the way overseeing as many as five separate public companies simultaneously. Especially following today鈥檚 transaction announcements, our company is simpler and more focused than ever before, which is a perfect capstone for Greg鈥檚 accomplished career at Liberty. I wish Greg continued success as he embarks on his next chapter and appreciate his continued support as an Advisor.鈥�

鈥淭he almost 20 years I have spent at the helm of jvid视频 have been incredibly rewarding, stimulating and endlessly eventful. Following today鈥檚 announcements at jvid视频 and Liberty Broadband, all the Liberty acquisitions completed during my tenure are now in structures where shareholders can have more direct ownership in their upside. The corporate structure is optimized, and the portfolio companies are in strong positions with talented executive teams in place. While it鈥檚 never easy to leave an organization as dynamic as Liberty, I am confident that this is the right time,鈥� said Mr. Maffei. 鈥淚 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.鈥�

Mr. Malone continued, 鈥淟ooking ahead, I am acutely focused on rationalizing the structural discounts at jvid视频 and growing our attractive, cash generative businesses. We have built a fantastic company with high-quality assets in media, communications, sports and entertainment. I look forward to working with our executive team to uncover new opportunities for shareholder value creation.鈥�

Under Maffei鈥檚 leadership, jvid视频 has grown its leading media, communications, sports and entertainment assets. Through creative deal making, Liberty completed the acquisition and investment in preeminent businesses including the Atlanta Braves, DirecTV, SiriusXM, Live Nation Entertainment, Charter Communications and Formula 1. Over the past 19 years during Maffei鈥檚 tenure, jvid视频鈥檚 composite value has increased at a compounded annual growth rate of 17% compared to 11% for the S&P 500, representing an 18x absolute return1. While CEO, Maffei has served as the Chairman of SiriusXM, Live Nation Entertainment, Liberty TripAdvisor, Tripadvisor, Starz, Atlanta Braves Holdings and Qurate Retail, and has served as a director of jvid视频, Liberty Broadband, Charter Communications, DirecTV and Barnes & Noble. He will continue to serve as Chairman of Qurate Retail, Liberty TripAdvisor, Tripadvisor and SiriusXM and as a Director of Charter Communications, Live Nation Entertainment and Zillow.

jvid视频 Chairman John Malone and CEO Greg Maffei will speak at jvid视频鈥檚 previously scheduled annual Investor Meeting on Thursday, November 14, 2024 with presentations beginning at approximately 9:30 am E.T. The Investor Meeting will be held in New York, NY and is open to shareholders, research analysts and press. Registration and livestream information is available on the jvid视频 website and at /investor-day. An archive of the webcast of the Investor Meeting and accompanying slides will also be available on /investors/news-events/ir-calendar after appropriate filings have been made with the SEC.

jvid视频 jvid视频

jvid视频 operates and owns interests in a broad range of media, communications, sports and entertainment businesses. Those businesses are attributed to two tracking stock groups: the Formula One Group and the Liberty Live Group. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include jvid视频鈥檚 subsidiaries Formula 1 and Quint, and other minority investments. The businesses and assets attributed to the Liberty Live Group (NASDAQ: LLYVA, LLYVK) include jvid视频鈥檚 interest in Live Nation and other minority investments.

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1 Based on market data as of 11/12/24. See appendix slide posted to jvid视频鈥檚 investor relations website for composite calculations.

jvid视频
Shane Kleinstein, 720-875-5432

Source: jvid视频

Released November 13, 2024