Dob Bennett, longtime president of Liberty Media, is stepping down.
Bennett disclosed that he will retire next April, but will relinquish the CEO title immediately to Liberty and Discovery Holding Co. Chairman John Malone.
.Bennett’s move is yet another sign of the slowdown of Liberty Media.
After a failed attempt to expand into telecom and the Internet before the tech crash, Malone has been lately chopping his empire into bite-sized chunks, first spinning off its international operations, then seperating its 50% stake in Discovery Networks into a new publicly-traded company.
He’s also been in a protracted dance with News Corp. Chairman Rupert Murdoch to sell at least parts of Liberty, particularly a major chunk of News Corp. stock.
"It's been an exciting journey and a rewarding experience," Bennett said in a statement. "In the past few years we've achieved many of our corporate objectives and now Liberty is in a strong position with numerous opportunities to explore."