Media mogul John Malone is stepping down from his director emeritus role at cable giant Charter Communications.
Malone said in a statement that he made the decision due to concerns around the Clayton Act, a 1914 antitrust law that the Department of Justice has been using to launch some investigations.
“I stepped away from my director emeritus role at Charter due to the uncertainty around Clayton Act inquiries,” said Malone in a statement. “I remain heavily invested in Charter via Liberty Broadband — which maintains its three board seats — and am confident in Charter’s leadership team and strategy for the business.”
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Malone still sits on the board of his holding company Liberty Media, where is he chairman, as well as on the board of Warner Bros. Discovery. Malone had been a director emeritus at Charter since 2018 when he formally retired as a full-time director of the cable company.
Malone’s resignation comes a few weeks after two members of the Newhouse family — Steve Miron and Steven Newhouse — resigned from the board of WBD, citing a DOJ inquiry involving the Clayton Act. Section 8 of the Clayton Act addresses corporate directors who simultaneously serve on the boards of competitors.
According to a statement from the DOJ, the agency viewed Charter as a competitor to WBD. “Charter, through its Spectrum cable service, and WBD, including through its Max streaming subscription services, both provide video distribution services to customers,” the DOJ said.
Cablefax first reported Malone’s exit from Charter.
