Several months after the New Year’s Eve resignation of chairman Irving Azoff, Live Nation Entertainment has named Liberty Media topper Greg Maffei as non-executive chairman of the board, the company announced on Thursday.
Maffei, who has been CEO of Liberty since 2006, joined the LNE board in 2011. Speculation over his increased role in the company was sparked when Liberty bought out 1.7 million of Azoff’s shares in Live Nation, increasing its ownership to 26.4%. Liberty’s involvement in LNE dates back to the company’s 2010 merger with Ticketmaster, of which Liberty had owned a 30% share.
Michael Rapino’s role as president and CEO remains uncharged.
“Michael and his team have made Live Nation the most pervasive brand in live entertainment,” Maffei said in a statement. “I look forward to further collaboration with Michael and my fellow board members.”
Rapino said: “Greg brings years of experience and business acumen that will continue to be a valuable asset.”