Cable Billionaire Malone to Step Down as Chair of Liberty Empire

John Malone, the billionaire cable-TV mogul, is stepping aside as chairman of two major companies in his media and telecommunications empire, part of the continued winding down of his role as a master architect of some of the most significant media and cable deals of the last half-century.

Malone, 84, will cede his position as chair of Liberty Global effective Jan. 1 and will be succeeded by the company’s Chief Executive Officer Mike Fries, according to a statement on Wednesday. Malone is also turning over the chairmanship of Liberty Media to Robert Bennett, who was a previous CEO of the company.