News Formula 1 Business
Liberty Media cuts John Malone's voting power from 48% to 3%
Formula 1's owner has swapped the Malone entities' high-vote shares for low-vote and non-voting stock. Malone steps down as Chairman Emeritus.
Liberty Media, the owner of Formula 1, has reduced the voting power of the entities linked to billionaire John Malone from about 48% to about 3%. As part of the move, Malone steps down as Chairman Emeritus of the board, but stays on as a senior adviser.
48%3%
Approximate figures, from Liberty Media's statement
Based on Liberty Media's outstanding shares on 30 October 2026
How the deal works
The company acquired all of the high-vote Series B common shares held by the entities known as the Malone Holders, about 97% of that class. Each Series B share was exchanged for 0.26 low-vote Series A shares and 2.34 non-voting Series C shares: 2.6 shares in all.
Why it happened
Malone had received a number of unsolicited offers from outside parties to buy the Series B common shares he beneficially owns. He and Liberty Media then began discussing a deal under which the company itself would acquire those shares instead.
A special committee of independent directors, chaired by Chase Carey and advised by Lazard and Cravath, Swaine & Moore, negotiated and approved the deal. It removes the chance of Malone's voting power passing to an outside buyer.
Source: Liberty Media statement, 5 November 2026.
