ENGLEWOOD — Greg Maffei is stepping down as president and chief executive of Liberty Media, the company that owns Formula 1. Liberty Media said Wednesday that Maffei would leave his role when his contract expires at the end of the year and become an adviser. The company’s 83-year-old chairman, John Malone, will be the interim CEO.

Liberty Media Corporation announced that it has launched a plan to spin their Live Group, including its stake in Live Nation, into a standalone public company to be known as Liberty Live, Inc. Followi