Maffei Renews Liberty Media Contract

ENGLEWOOD: Greg Maffei will remain as the president and CEO of Liberty Media for another five years, through 2014.

At the end of last year, the company’s board of directors approved a new employment arrangement with Maffei. Announcing the new contract, John Malone, Liberty Media’s chairman, noted: "We are very pleased to have secured Greg’s leadership at Liberty Media for the next five years. Liberty has accomplished much in the four years since Greg joined, efficiently liquidating passive investments, completing transactions that have transformed the company, setting us on a good course for the future, and delivering substantial shareholder value. During his tenure, our equities have significantly outperformed the broader market and our media peers."

Maffei added: "Liberty has tremendous brands and assets that are well positioned for the future. I look forward to working with our great leadership teams, at Liberty and the operating companies, and am excited about our prospects in the dynamic media landscape."