(Bloomberg) -- John Malone, the cable-television magnate, will retire from the board of Hollywood movie and TV studio Lions Gate Entertainment Corp., the company said in a regulatory filing Monday.
Malone, who invests in media and telecommunication properties through his Liberty empire, and Scott Paterson, the venture capitalist, will retire and not stand for re-election at the company’s annual meeting. The move isn’t the result of a disagreement with the company over operations, policies or practices, Lions Gate said.
Malone, 77, has been investing in Lions Gate since 2015 as part of a global expansion. Liberty Global and Discovery, in which Malone has stakes, had each invested in the studio. The investment was seen as a strategy through which Malone could accumulate other entertainment companies, and consolidate what he called “free radicals.”
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