Liberty Media, Liberty Global Chair John Malone to step down, FT reports

John Malone, plans to step down as chair of Liberty Media (LMCA) and Liberty Global (LBTYA), The Financial Times’ Kieran Smith reports. According to two people familiar with the matter, the news could be announced as soon as Wednesday, adding that Malone will continue to invest and manage his personal venture capital portfolio and retain his stake in the Atlanta Braves baseball team. It is unclear who will succeed Malone, who remains the shareholder with the most voting rights in both Liberty Media and Liberty Global, in his role.