Veteran Media Mogul John Malone Gives Up Controlling Stake in Liberty

Veteran media mogul John Malone is relinquishing his controlling stake in Liberty Media. The 85-year-old industry leader is exchanging his supervoting shares for regular shares, which reduces his voting power from 48% to 3%. Liberty Media announced this transition on Thursday, marking a significant shift in the company's governance as Malone steps back from his dominant position. This move effectively ends his controlling influence over the media entity after years of being a major force.