John Malone Steps Down from Charter Board

By Brian Steinberg

LOS ANGELES (Variety.com) – John Malone, the savvy media industry investor who has parlayed stakes in a variety of entertainment companies to his long-term benefit, will step down from the board of directors of Charter Communications, the second corporate board he has left in recent days.

Malone said earlier in July that he would retire from the board of Lionsgate.

Charter, one of the nation’s biggest cable operators, said in a statement Tuesday that Malone “will attend Board meetings and provide active support and advice” but will no longer have a vote on corporate matters.

“I am retiring from the board of Charter to reduce my travel and focus on fewer board positions,” Malone said in a prepared statement. He indicated he remained an investor in Charter.

James Meyer, CEO of SiriusXM, a satellite-radio operator controlled by Malone’s Liberty holding company, has been nominated to replace him on the Charter board.