Cable TV pioneer John Malone is not seeking re-election to the board of Warner Bros Discovery and will instead take on the role of chairman emeritus, the media company said on Friday.

The cable TV pioneer lauded WBD's "incredible progress," outlook for "profitable growth" and CEO David Zaslav for "his powerful combination of operational excellence and decisive leadership."

(Reuters) -Warner Bros Discovery said on Friday cable TV pioneer and major shareholder John Malone would step down from its board and transition to chairman emeritus, the second boardroom change at the media giant in recent weeks.