Leadership Change: Derek Chang to Steer Liberty Media's Growth for New Liberty Formula One Series A

Leadership Transition at Liberty Media: Derek Chang Set to Guide Future Growth

Liberty Media Corporation announces a pivotal leadership change, appointing Derek Chang as President and Chief Executive Officer, effective February 1, 2025. Chang, who has been a board member since March 2021, brings a wealth of experience from his previous roles in major media and sports organizations, including EverPass Media, the NBA, and DIRECTV. His deep understanding of Liberty's operations and strategic direction positions him uniquely to oversee the company's ambitious plans for future growth. John Malone, Liberty's Chairman, expresses confidence in Chang's leadership abilities, emphasizing their longstanding professional relationship and the potential for innovation under his guidance.

In his new role, Chang aims to optimize Liberty's diverse portfolio while concentrating on the split-off of Liberty Live and enhancing high-potential assets like Formula 1 and MotoGP. These acquisitions have positioned Liberty as a significant player in the competitive sports media landscape. Chang's commitment to a long-term investment strategy, coupled with an agile approach to new opportunities, suggests a proactive stance in leveraging the company's assets for maximum impact. This strategic focus aligns with the growing global demand for premium sports content, as demonstrated by Chang's prior success in expanding the NBA's reach in China.

As Chang prepares for his new responsibilities, he acknowledges the rich history of Liberty Media and the dynamic environment in which it operates. His previous tenure as Executive Chairman of EverPass Media, which specializes in distributing premium sports content, equips him with the necessary insights to navigate the challenges and opportunities within the industry. The impending transition marks a new era for Liberty Media, positioning the company to build on its legacy while exploring fresh avenues for growth and innovation in the evolving media landscape.

In related developments, outgoing CEO Greg Maffei reflects on his nearly two-decade tenure, noting substantial acquisitions that have significantly increased Liberty's composite value. He expresses gratitude for his collaborative experiences with stakeholders and team members, emphasizing that the company's structure is now optimized for direct shareholder benefits. As Chang steps into his new role, he carries the weight of these accomplishments while charting a course for the future of Liberty Media.