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Why John Malone, Chairman of DirecTV, Will Leave That Post and Also Cut His Voting Shares in the Company

Apr 8, 2010  •  Post A Comment

Media magnate John Malone, who at one time ran the biggest cable company in the U.S., TCI, is leaving his post as chairman of DirecTV, and will reduce his voting shares in the company, Bloomberg’s Business Week reports.

According to the report, "Reducing his votes will help Malone, who is also chairman of Liberty Media LLC, respond to concerns that he has too much power in Puerto Rico, where both Liberty and DirecTV operate TV businesses. The U.S. Federal Communications Commission had called on Malone to sever the Puerto Rico connections after Liberty bought an interest in DirecTV from News Corp. in 2008."

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