Derek Chang, new president and CEO of Liberty Media

At a critical moment with great challenges on the horizon, such as the closing of the acquisition of Dorna Sports after having been paralyzed due to the doubts of the European Commission, Liberty Media has decided to appoint Derek Chang as president and CEO, who had already held the position of director since 2021.

Derek Chang, an executive with extensive experience in the media, sports and entertainment sectors, has directed operational, corporate development and investment teams in prominent companies during various phases of growth. In addition to being part of Liberty Media, he holds the position of executive president of EverPass Media, a joint venture he co-founded with Alex Kaplan in partnership with the NFL and RedBird Capital Partners, with subsequent investment from TKO, to create a new platform for delivering premium sports content to retail locations. While he will be leaving this role to assume all of Liberty Media's new responsibilities, he will remain on the EverPass Media Board to coincide with his new role at Liberty.

Previously, Chang was CEO of NBA China from 2018 to 2020, where he led the NBA's effort to expand its presence as the preeminent foreign sports league in the region, while leading a staff of 200 based in NBA offices in Beijing, Shanghai, Taipei and Hong Kong. Additionally, he held several leadership positions in Scripps Network Interactive from 2013 to 2018; spent 7 years in DirecTV, overseeing content acquisition and production as vice president of content strategy and development, and was executive vice president of finance at Charter Communications from 2003 to 2005.

Chang will assume his new position on February 1, 2025. John Malone, president of Liberty Media, will serve as interim CEO until then. He will also join Liberty Media's executive committee of the board with John Malone, the vice chairman Drum Bennett y Chase Carey. Besides, Stefano Domenicali, president and CEO of Formula 1, will report to a Liberty Media board committee composed of Bennett, Carey and Chang.

John Malone welcomes Derek Chang to the position of CEO and president: "His experience in both operational and investment roles, his extensive knowledge of our industries and his familiarity with Liberty make him the ideal leader for Liberty's next chapter. I have personally worked with Derek for more than 25 years and have always been impressed by his leadership style, breadth of knowledge and global perspective. I look forward to supporting him and Liberty's management team in continuing to drive shareholder value."

For its part, Chang He adds: "I have had the privilege of working with John Malone and the Liberty team for many years during my time at TCI and DirecTV and later as a board member of Starz and Liberty, and have long admired their track record of creating value for investors and partners. Our current focus is clear: optimize the portfolio structure with the spin-off of Liberty Live and support the growth of our attractive operating assets, including F1 and MotoGP following their acquisition, to continue their momentum and invest for the future." Looking further ahead, Liberty has always been long-term minded in its investment mandate, but agile in moving quickly on new opportunities. Both of these will remain true in our strategy going forward.”