Derek Chang
Liberty BroadbandAbout Derek Chang
Derek Chang is a veteran media and sports executive appointed to Liberty Broadband’s Board on May 22, 2025, as a Class I director with a term expiring at the 2027 annual meeting . He is President & CEO of Liberty Media Corporation (since early 2025) and previously CEO of NBA China; he holds an MBA from Stanford and a BA from Yale . Age reported: 57 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Liberty Media Corporation | President & Chief Executive Officer | 2025–present | Leads corporate strategy across media/sports portfolio |
| NBA China | Chief Executive Officer | 2018–2020 | Expanded NBA presence; led ~200 staff across China/Taipei/HK |
| Friend MTS (UK) | Chief Executive Officer | 2021 | Anti-piracy/content protection leadership |
| Scripps Networks Interactive | Head, International Lifestyle Channels | 2013–2018 | Built international channels in Singapore/London |
| DIRECTV | EVP, Content Strategy & Development | ~2006–2013 | Oversaw all content acquisition/production |
| Charter Communications | EVP Finance & Strategy; Interim Co‑CFO | 2003–2005 | Managed balance sheet, M&A, strategy; primary Wall St. contact |
| YES Network; TCI Communications | Senior executive roles | 2001–2003 (YES); prior (TCI) | Media ops and distribution experience |
External Roles
| Organization | Capacity | Status |
|---|---|---|
| Liberty Media Corporation | Director | 2021–present |
| EverPass Media | Executive Chairman (prior); Board member | Current board member; co‑founded JV with NFL/RedBird/TKO |
| Playfly Sports; Professional Fighters League (PFL) | Board member (prior) | Prior service noted |
| ISOS Acquisition Corp (merged with Bowlero) | Independent Director (prior) | Prior service |
| Vobile Group | Independent Non‑Executive Director (prior) | 2020–2021 |
| Starz | Director (prior, post spin-off) | Prior service |
Board Governance
- Appointment and class: Appointed May 22, 2025; Class I term through 2027 annual meeting .
- Committee assignments: Not disclosed in the May 22, 2025 8‑K or press release; the 2025 proxy precedes his appointment and thus does not include him in committee rosters .
- Independence: The 2025 proxy lists current independent directors but predates Mr. Chang’s appointment; independence classification for Mr. Chang has not yet been disclosed. Note: he is CEO of Liberty Media; Liberty Broadband maintains a services agreement with Liberty Media, which is overseen by the Compensation Committee—monitor future proxy for independence determination .
- Board structure context: 86% of directors independent (pre‑appointment), independent chairs for audit/comp/NCG; no lead independent director; 11 Board meetings and 3 independent executive sessions in 2024 .
Fixed Compensation
| Component | 2025 Amount/Terms |
|---|---|
| Annual director fee (non‑employee) | $187,650; paid solely in cash for 2025 given pending merger; previously allowed equity election discontinued for 2025 . |
| Committee fees (member) | Audit: $15,000; Compensation: $10,000; Nominating & Corporate Governance: $10,000 . |
| Committee fees (chair) | Audit Chair: $25,000; Compensation Chair: $15,000; NCG Chair: $15,000 . |
| Multiyear cash award | Granted Aug 2024 to then‑serving directors; vests 50% Dec 11, 2024 and 50% Dec 11, 2025; Mr. Chang was not a director at grant date . |
Performance Compensation
- No performance‑based components for directors disclosed in 2024/2025 materials; 2025 director compensation is cash‑only with no equity election, and no director performance metrics are specified .
Other Directorships & Interlocks
| Company | Type | Potential Interlock/Note |
|---|---|---|
| Liberty Media Corporation | Public | CEO and Director; Liberty Broadband has a services agreement with Liberty Media (administrative/management services) overseen by Comp Committee—monitor for recusals . |
| EverPass Media | Private JV | Sports distribution JV with NFL/RedBird/TKO; Board member . |
| Prior public boards (e.g., Starz, Vobile; ISOS/Bowlero) | Public (prior) | Prior experience; no current LBRDA conflict disclosed . |
Expertise & Qualifications
- Deep operating and deal experience across pay‑TV, streaming, sports rights and international markets (DIRECTV, Scripps, NBA China, Charter) .
- Financial strategy background (Charter EVP Finance & Strategy/Interim Co‑CFO); complements LBRDA’s principal asset in Charter .
- Education and recognition: MBA Stanford; BA Yale; cited among Cablefax Top 100 and SBJ’s 50 Most Influential in Sports Business .
Equity Ownership
| Data point | Value/Status |
|---|---|
| Initial beneficial ownership | Form 3 filed May 27, 2025 reported no securities beneficially owned at appointment . |
| Stock ownership guidelines | Non‑employee director stock holding guidelines were eliminated in March 2025 in light of pending merger; 2025 fees to be paid in cash . |
| Hedging/pledging | Insider Trading Policy in place; see governance documents; no pledging by Mr. Chang disclosed; no material legal proceedings for directors in past ten years . |
Insider filings
| Date | Form | Summary |
|---|---|---|
| 2025‑05‑27 | Form 3 | Initial statement of beneficial ownership; “No securities beneficially owned” . |
Governance Assessment
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Strengths
- Board added an operator with direct Charter, DIRECTV and global sports/media experience, relevant to LBRDA’s assets (Charter, GCI) .
- No related‑party transaction involving Mr. Chang disclosed at appointment (Item 404(a) cleared) .
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Watch items / potential conflicts
- As CEO of Liberty Media while serving on LBRDA’s board, monitor independence classification and recusal practices given the Liberty Broadband–Liberty Media services agreement overseen by the Compensation Committee .
- Committee assignments and attendance not yet disclosed as of the May 22, 2025 8‑K; evaluate in the next proxy for committee load and engagement .
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Alignment signals
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RED FLAG: Form 3 shows no LBRDA equity owned at appointment; 2025 director compensation is cash‑only with the equity election suspended, and stock ownership guidelines were eliminated in March 2025—this temporarily weakens equity alignment until holdings accumulate .
- Board continues independent executive sessions; 86% independent (pre‑appointment) with independent committee chairs—positive for oversight .
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Bottom line: Chang brings high‑value operating/rights negotiation expertise aligned with LBRDA’s core holdings, but investors should watch for formal independence determination, any committee roles touching the Liberty Media services agreement, and whether he builds a meaningful LBRDA equity stake over time .