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Monday, Jun 30, 2025

John Malone to Resign as DirecTV Chairman

Cable veteran John Malone will resign from the board of DirecTV and reduce his voting stake in the satellite provider to 3 percent from 24.3 percent, the company said on Tuesday.

Malone will exchange about 21.8 million Class B common stock — which confers 15 votes a share — for 26.5 million Class A shares.

The transaction is expected to satisfy a Federal Communications Commission condition dating back to the acquisition of DirecTV by Malone’s Liberty Media from News Corp. in 2008.

&#8226 Read the full Reuters story.

&#8226 Read the full Wall Street Journal story.

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