Media billionaire John Malone is exiting his seat on Warner Bros. Discovery's board of directors and will become chair emeritus.

John Malone, the shrewd and far-sighted media mogul and key ally of David Zaslav, has decided not to stand for re-election to Warner Bros. Discovery ‘s board of directors. He will instead transition to the role of chair emeritus when his term expires this year.

John Malone, the cable-TV and media pioneer, is stepping down from his role as a member of the board of directors at Warner Bros. Discovery Inc., but he’ll continue to be involved as chair emeritus.