Liberty Media is once again in full rearrangement mode, carving out everything but Formula One into a new entity, Liberty Live, as CEO Greg Maffei heads for the exit at year’s end. John Malone, the man with a portfolio as complex as a maze, will step in as interim CEO, ready to usher Liberty’s latest reorg into existence. Meanwhile, Charter Communications is slated to absorb Liberty Broadband in an all-stock transaction, keeping Malone’s puzzle pieces in motion. By 2025, Liberty Media will have whittled itself down to racing assets, proving that even sprawling empires occasionally need a good spring clean.
