Media mogul John Malone is stepping down from his director emeritus function at cable large Constitution Communications.
Malone mentioned in an announcement that he made the choice resulting from issues across the Clayton Act, a 1914 antitrust legislation that the Division of Justice has been utilizing to launch some investigations.
“I stepped away from my director emeritus function at Constitution as a result of uncertainty round Clayton Act inquiries,” mentioned Malone in an announcement. “I stay closely invested in Constitution by way of Liberty Broadband — which maintains its three board seats — and am assured in Constitution’s management group and technique for the enterprise.”
Malone nonetheless sits on the board of his holding firm Liberty Media, the place is he chairman, in addition to on the board of Warner Bros. Discovery. Malone had been a director emeritus at Constitution since 2018 when he formally retired as a full-time director of the cable firm.
Malone’s resignation comes a number of weeks after two members of the Newhouse household — Steve Miron and Steven Newhouse — resigned from the board of WBD, citing a DOJ inquiry involving the Clayton Act. Part 8 of the Clayton Act addresses company administrators who concurrently serve on the boards of opponents.
In accordance with an announcement from the DOJ, the company considered Constitution as a competitor to WBD. “Constitution, by way of its Spectrum cable service, and WBD, together with by way of its Max streaming subscription providers, each present video distribution providers to prospects,” the DOJ mentioned.
Cablefax first reported Malone’s exit from Constitution.