Nov 13 (Reuters) - Liberty Media ( LLYVB ) said on

Wednesday it planned to split unit Liberty Live Group into a

separate public entity and said CEO Gregory Maffei will step

down from his role at the end of 2024.

Following the split, Liberty Media ( LLYVB ) will hold its

subsidiaries Formula 1 and MotoGP, certain private assets

currently attributed to Formula One Group and related sports

investments.

Chairman John Malone will step in as interim CEO, the

company said.

"The split-off of Liberty Live Group into a separate public

entity will simplify Liberty Media's ( LLYVB ) capital structure, should

reduce the discount to net asset value of our Liberty Live stock

and enhance trading liquidity at both entities," Maffei said in

a statement.

Liberty Media ( LLYVB ) in 2016 struck a deal to acquire Formula One

from a consortium of sellers led by CVC Capital Partners for

$4.4 billion.

Immediately prior to a split, Liberty's subsidiary Quint

would be reattributed from the Formula One Group to the Liberty

Live Group in exchange for certain private assets.

Liberty Live, the new entity, will hold about 69.6 million

shares of Live Nation Entertainment, Quint, certain

private assets that are currently attributed to Liberty Live

Group among other assets.