Derek Chang Takes on Leadership Role
ENGLEWOOD, Colo. - Liberty Media Corporation (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) is excited to announce the appointment of Derek Chang as its new President and Chief Executive Officer. Mr. Chang's extensive experience in the media and entertainment sectors positions him to effectively lead the company into its next phase of growth.
A Veteran in the Media Landscape
Derek Chang is recognized as a seasoned executive with a rich background spanning the global media, sports, and entertainment industries. His impressive career has included leadership roles at renowned organizations such as EverPass Media, the NBA, and DIRECTV. With a strategic mindset honed over the years, he has successfully managed teams through various growth phases, helping to foster innovation and drive profitability.
Building on a Solid Foundation
Since joining Liberty Media's Board of Directors in March 2021, Derek has cultivated a deep understanding of the company's operations, culture, and strategic vision. This experience, combined with his prior successes, creates a solid foundation upon which he can build. As John Malone, the Chairman of Liberty Media, noted, Derek is the ideal choice for steering the company forward. Malone himself has worked closely with Chang for more than 25 years and speaks highly of his leadership capabilities.
Future-Focused Strategy
The focus of Liberty Media under Chang's leadership is clear. Derek aims to optimize the company's portfolio structure while supporting the growth of its appealing operating assets. This includes key endeavors such as F1 and MotoGP, especially post-acquisition, which are projected to drive momentum and enable new investments for future growth. Liberty Media's history of being long-term minded while remaining agile enough to seize emerging opportunities reinforces its strategy going forward.
Professional Acumen
Before assuming his role at Liberty Media, Derek was the Executive Chairman of EverPass Media, a joint venture established in collaboration with the NFL and RedBird Capital Partners. This venture aimed to develop a new platform for distributing premium sports content in commercial environments. With plans to step down from this position, he will, however, continue his involvement on the Board of EverPass Media while fully committing to his new responsibilities at Liberty.
Noteworthy Contributions to the Sports Industry
Derek's leadership experience also includes serving as the CEO of NBA China from 2018 to 2020, where he spearheaded initiatives to enhance the league's presence in the region. He oversaw a diverse team of 200 professionals across multiple offices, playing a pivotal role in establishing the NBA as a leading sports league in China.
Additionally, Derek has held various essential roles at Scripps Network Interactive, where he contributed significantly to the International Lifestyle Channels, and at DIRECTV, where he was instrumental in shaping content strategy. His tenure at Charter Communications as EVP Finance and Strategy further underscores his comprehensive skill set.
A Scholarly Background
Derek holds an MBA from Stanford University, complemented by a bachelor's degree in history from Yale University. His exemplary career has earned him recognition as one of Cablefax Magazine’s “Top 100 Executives in Cable” and as one of the “50 Most Influential People in Sports Business” by SportsBusiness Journal. He is actively engaged with the Committee of 100 (“C100”), a distinguished Chinese American organization, and serves on the Advisory Board of Row New York.
About Liberty Media Corporation
Liberty Media Corporation is dedicated to operating and owning interests across various media, sports, and entertainment sectors. The company manages two distinct tracking stock groups: the Formula One Group and the Liberty Live Group. The Formula One Group encompasses assets like Formula 1 and Quint, while the Liberty Live Group pertains to interests in Live Nation and other investments.
Frequently Asked Questions
Who is Derek Chang?
Derek Chang is the newly appointed President and CEO of Liberty Media Corporation, bringing extensive experience in media and sports management.
When will Derek Chang officially start in his new role?
Derek Chang will begin his new role on February 1, 2025, while John Malone will serve as interim CEO until then.
What are Liberty Media’s main business interests?
Liberty Media operates within media, sports, and entertainment, managing entities such as Formula 1 and Live Nation.
What prior roles has Derek Chang held?
Derek has previously served as the Executive Chairman of EverPass Media, CEO of NBA China, and held leadership positions at DIRECTV and Scripps.
How has Derek Chang been recognized in his field?
He has been recognized as one of Cablefax Magazine’s “Top 100 Executives in Cable” and one of the “50 Most Influential People in Sports Business.”
