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Pioneering media mogul John Malone is stepping down as chairman of his holding companies, Liberty Media and Liberty Global, after shaping the cable television landscape for decades.

"Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life," Malone said in a statement Wednesday. "With the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the Chairman role.

"Dob has been involved in all key decisions throughout Liberty Media’

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