John Malone starts succession planning

|By:, SA News Editor

John Malone has given the rights of first refusal to the CEOs of Discovery Communications (DISCA) and Liberty Global (LBTYA) to buy his holdings in their respective companies.

Discovery chief David Zaslav will be able to purchase Malone's 29% voting stake in the TV broadcaster; at Liberty, Michael Fries will be able to acquire Malone's 27% voting interest.

However, Malone has no intention of reducing his involvement in the businesses just yet, nor has he laid out any similar plans for his holding in Liberty Media (LMCA). Rather, the rights given to Zaslav and Fries represent planning for the future.