Englewood – Cable magnate John Malone will step into the CEO’s job at Liberty Media Corp. to replace the retiring Robert Bennett, the company said today.
Bennett will remain a director of the media holding company and will work on special projects. His departure is scheduled for April 1, 2006.
Malone, 64, is currently Liberty’s chairman.
The move comes as Liberty Media has been working to streamline its diverse assets. It spun off its international holdings into Liberty Media International Inc. last year and completed the spinoff of Discovery Holding Co. last month.
Based in a Denver suburb, Liberty Media owns interests in a range of businesses encompassing cable television entertainment, cable retail networks and interactive services.
Liberty’s shares fell 7 cents to close at $8.65 today on the New York Stock Exchange.
