Live Nation Entertainment, the concert and ticketing giant, named Gregory B. Maffei its new chairman, the latest in a series of shifts in corporate allegiances for the company. Maffei, 52, replaces Irving Azoff, the longtime music exec who helped see Live Nation through its merger with Ticketmaster in 2010, and left at the end of last year. Unlike Azoff, Maffei, who joined Live Nation’s board two years ago, will not hold an executive position.
Maffei’s arrival gives significant control of the company to John Malone’s Liberty Media. Maffei is president and CEO of Liberty Media, which is already Live Nation’s largest shareholder, with a 27% stake, reports The NY Times.
The move comes two days after the Madison Square Garden Company sold its $44 million stake in Live Nation; James Dolan, the chairman of MSG, stepped down from Live Nation’s board last month.
The announcement of Maffei’s appointment also came hours after another management change at the top of the live entertainment business. As part of the Anschutz Company’s announcement that it was aborting the sale of the Anschutz Entertainment Group, its sports and concerts division, the company also said that Timothy Leiweke, AEG CEO–and a longtime lieutenant to Philip Anschutz, the chairman–was leaving the company.