Yahoo Movies Greg Maffei’s Liberty Media CEO Pay Rises to $28.7M in 2023
Media mogul John Malone’s Liberty Media — which owns audio entertainment powerhouse SiriusXM, the Formula One racing circuit, and a stake in events promoter Live Nation Entertainment, among others — has disclosed that president and CEO Greg Maffei’s 2023 compensation package amounted to $28.66 million, compared with $22.36 million in 2022. He had earned $21.58 million in 2021.
A regulatory filing emphasized that Maffei’s and other executives’ salary portion of their compensation packages “represents only that portion of each named executive officer’s salary that was allocated to our company,” adding that “the portion of Mr. Maffei’s base salary attributable to the former Braves Group” is reported in that company’s proxy statement. The proxy for the Braves, which Liberty previously split off, shows Maffei as having received a $210,000 salary in 2023.
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Maffei’s Liberty Media compensation included $7.1 million in stock awards, which he had not received in 2022, while the value of his option awards declined from $7.8 million in 2022 to $3.8 million in 2023. His non-equity incentive plan compensation rose from $11.7 million to nearly $14.3 million.
The company also disclosed the annual pay for chairman Malone, which amounted to $1.27 million, compared with $1.31 million in 2022, and $1.12 million in 2021.
The latest annual pay details were disclosed in a regulatory filing with the Securities and Exchange Commission late in the week.
Liberty’s 2023 revenue rose to $12.5 billion from $12.2 billion. Net earnings of $962 million for the year were down from $2.0 billion in 2022.
Malone recently said that he was stepping down from his director emeritus role at cable giant Charter Communications due to concerns around the Clayton Act, a 1914 antitrust law that the Department of Justice has been using to launch some investigations.
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