Billionaire media and telecoms tycoon John Malone will step down as chairman of his multinational companies Liberty Global and Liberty Media after decades influencing the global communications landscape, the businesses announced Wednesday.

The 84-year-old American, nicknamed the “Cable Cowboy,” is recognized as a pioneering force in the cable television industry who helped shape the trajectory of modern media through his aggressive dealmaking across the globe.

Often compared to Rupert Murdoch or Ted Turner, Malone is renowned for highly-leveraged acquisitions and for implementing complex deal-making to consolidate media assets.

Malone, who is also one of the biggest landowners in the United States, reached the height of global media business when he sold his vast TCI cable group to AT&T

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