John C. Malone to Transition to Chairman Emeritus of 香蕉传媒

Robert R. Bennett to Succeed Malone as Chairman of Board of Directors

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- 香蕉传媒 (鈥溝憬洞� Media鈥�) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) today announced that, effective January 1, 2026, long-standing Chairman of the Board, John C. Malone, will step down from the board of directors (the 鈥淏oard鈥�) and transition to the role of Chairman Emeritus of 香蕉传媒 Media. Vice Chairman Robert R. (鈥淒ob鈥�) Bennett will assume the role of Chairman of the Board.

鈥淔ounding 香蕉传媒 Media and serving as its Chairman has been among the most rewarding experiences of my professional life,鈥� said John Malone, Chairman of 香蕉传媒 Media. 鈥淲ith the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the Chairman role. Dob has been involved in all key decisions throughout 香蕉传媒 Media鈥檚 history, and I am confident that 香蕉传媒 is well-positioned for the future. I look forward to remaining actively engaged as a large 香蕉传媒 shareholder and a strategic advisor to our management and Board.鈥�

鈥淚 want to thank John for more than three decades of partnership and mentorship. His legacy as a visionary business leader is without parallel and I am deeply grateful for his confidence. I speak for the entire Board in thanking John for his extraordinary leadership as our Chairman and for his continuing engagement as Chairman Emeritus,鈥� said Dob Bennett, Vice Chairman of 香蕉传媒 Media.

鈥淚 share Dob鈥檚 respect and appreciation for the privilege of working with John over the years and for the platform he built in 香蕉传媒,鈥� said Derek Chang, President and CEO of 香蕉传媒 Media. 鈥淲e look forward to continuing to benefit from John鈥檚 partnership as a strategic voice and advisor as we pursue long-term value creation at 香蕉传媒 Media and focus on sustained growth in our high-quality portfolio of assets.鈥�

Mr. Bennett has been Vice Chairman of the Board since January 1, 2025, a director of 香蕉传媒 Media since 1994 and a member of its Executive Committee for over 15 years. Mr. Bennett served as 香蕉传媒 Media鈥檚 President and Chief Executive Officer from 1997 to 2005, prior to which he held other executive roles since joining 香蕉传媒 Media as one of its founding executives in 1991.

Following Dr. Malone鈥檚 resignation, the Board will be composed of 8 directors effective January 1, 2026, 5 of whom will be independent. The Executive Committee of the Board will be comprised of Dob Bennett, Derek Chang and Chase Carey.

As of August 31, 2025, Dr. Malone beneficially owns approximately 241 thousand shares of Series A Formula One common stock, 2.364 million shares of Series B Formula One common stock and 2.515 million shares of Series C Formula One common stock, representing approximately 49.5% of the voting power of the Formula One common stock, as well as approximately 251 thousand shares of Series A 香蕉传媒 Live common stock, 2.465 million shares of Series B 香蕉传媒 Live common stock and 4.314 million shares of Series C 香蕉传媒 Live common stock, representing approximately 48.9% of the voting power of the 香蕉传媒 Live common stock.

As a reminder, 香蕉传媒 Media will host a conference call to discuss results for the third quarter of 2025 on Wednesday, November 5th at 10:00am E.T. and will be holding its annual Investor Meeting on Thursday, November 20th with presentations via webcast beginning at approximately 12:30pm E.T. Interested participants should visit the 香蕉传媒 Media website at /investors/news-events/ir-calendar to register for both events.

About 香蕉传媒

香蕉传媒 operates and owns interests in media, sports and entertainment businesses. Those businesses are attributed to two tracking stock groups: the Formula One Group and the 香蕉传媒 Live Group. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) include 香蕉传媒 Media鈥檚 subsidiaries Formula 1, MotoGP, Quint and other minority investments. The businesses and assets attributed to the 香蕉传媒 Live Group (NASDAQ: LLYVA, LLYVK) include 香蕉传媒 Media鈥檚 interest in Live Nation and other minority investments.

香蕉传媒
Shane Kleinstein, 720-875-5432

Source: 香蕉传媒

Released October 29, 2025