Cable cowboy John Malone is just starting to think about hanging up his spurs.
While the Liberty Media chairman has no plans to retire any time soon, he has told colleagues recently that he wants to put in place a succession plan for when he eventually steps aside, according to sources familiar with the talks.
The 73-year-old billionaire oversees a far-flung media empire with investments spanning cable, satellite radio and music.
His succession plan could spark a rivalry between the bosses of various Liberty-controlled companies, among them Liberty Media CEO Greg Maffei, who helped engineer the SiriusXM takeover, and Mike Fries, who spearheaded the $24 billion acquisition of Virgin Media.
Malone’s son, Evan, who is an engineer, is also on the boards of several Liberty-controlled companies. It’s unclear if he would be considered a candidate to succeed his father.
Malone’s holdings are split into three stocks: Liberty Media, Liberty Global and Liberty Interactive.
Liberty Media has control of SiriusXM Radio and stakes in Discovery Communications, Live Nation and the recently spun off premium pay-TV business Starz.
The firm also has stakes in media giants Time Warner and Viacom.
Malone, who led the first wave of cable consolidation in the 1980s and 1990s, is also leading the latest charge to shake up the industry.
Liberty Media, which owns 27 percent of Charter Communications, has been touting the benefits of further cable consolidation, including a potential tie-up with larger rival Time Warner Cable.
While TWC hasn’t dismissed the idea outright, CEO Glenn Britt and other managers wonder whether the deal makes sense for shareholders, as Charter is a much smaller company with a sizable debt load.
If the deal happens, it would be the capstone on a long career in cable for Malone, whose personal fortune is estimated at $6 billion.