Live Nation Entertainment Inc. made the announcement that Malone replaces Barry Diller, who left the post of chairman on October 14 but remains a director. Diller was instrumental in the merger of Ticketmaster and Live Nation and said he planned to resign as chairman after the merger became complete.
Malone, meanwhile, agreed to the interim post while the combined company looks for a new chairman. Liberty Media Corp. owns approximately 14 percent of Live Nation.