Charter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal

Dow Jones

2024/11/13

MW Charter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal

Charter Communications Inc. $(CHTR)$ announced Wednesday an all-stock agreement to buy Liberty Broadband Corp. $(LBRDK)$ $(LBRDA)$ (LBRDP), at better terms than were previously proposed but less than what Liberty had countered with. Under terms of the deal, holders of each class of Liberty shares will receive 0.236 of a Charter share for every Liberty share they own. Based on Tuesday's closing prices, the exchange rate would equate to $92.51 a share, or a 5.2% discount to the Class C shares' closing price. Charter had previously proposed a 0.228 exchange rate, while Liberty had countered with a 0.29 exchange rate proposal. Liberty's principle assets consist of 45.6 million common shares of Charter's GCI, LLC subsidiary, which is Alaska's largest communications provider. After the deal closes, which is currently expected to occur on June 30, 2027, Charter expects to retire those shares and issue 34 million shares to Liberty shareholders. "Today's announced transaction will rationalize Liberty Broadband's trading discount and ultimately provide our shareholders with enhanced liquidity," said Liberty Chairman John Malone.

-Tomi Kilgore

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November 13, 2024 08:52 ET (13:52 GMT)

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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 08:52 ET (13:52 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Charter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCharter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-13 21:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Charter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal\n</p>\n<p>\n     Charter Communications Inc. <a href=\"https://laohu8.com/S/CHTR\">$(CHTR)$</a> announced Wednesday an all-stock agreement to buy <a href=\"https://laohu8.com/S/LBRDP\">Liberty Broadband Corp</a>. <a href=\"https://laohu8.com/S/LBRDK\">$(LBRDK)$</a> <a href=\"https://laohu8.com/S/LBRDA\">$(LBRDA)$</a> (LBRDP), at better terms than were previously proposed but less than what Liberty had countered with. Under terms of the deal, holders of each class of Liberty shares will receive 0.236 of a Charter share for every Liberty share they own. Based on Tuesday's closing prices, the exchange rate would equate to $92.51 a share, or a 5.2% discount to the Class C shares' closing price. Charter had previously proposed a 0.228 exchange rate, while Liberty had countered with a 0.29 exchange rate proposal. Liberty's principle assets consist of 45.6 million common shares of Charter's GCI, LLC subsidiary, which is Alaska's largest communications provider. After the deal closes, which is currently expected to occur on June 30, 2027, Charter expects to retire those shares and issue 34 million shares to Liberty shareholders. \"Today's announced transaction will rationalize Liberty Broadband's trading discount and ultimately provide our shareholders with enhanced liquidity,\" said Liberty Chairman John Malone. \n</p>\n<p>\n     -Tomi Kilgore \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 08:52 ET (13:52 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0211331839.USD","symbol_name":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483883695","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483883695","pubTimestamp":1731505920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Charter Communications Inc.  announced Wednesday an all-stock agreement to buy Liberty Broadband Corp.   , at better terms than were previously proposed but less than what Liberty had countered with. 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Under terms of the deal, holders of each class of Liberty shares will receive 0.236 of a Charter share for every Liberty share they own. Based on Tuesday's closing prices, the exchange rate would equate to $92.51 a share, or a 5.2% discount to the Class C shares' closing price. Charter had previously proposed a 0.228 exchange rate, while Liberty had countered with a 0.29 exchange rate proposal. Liberty's principle assets consist of 45.6 million common shares of Charter's GCI, LLC subsidiary, which is Alaska's largest communications provider. After the deal closes, which is currently expected to occur on June 30, 2027, Charter expects to retire those shares and issue 34 million shares to Liberty shareholders. \"Today's announced transaction will rationalize Liberty Broadband's trading discount and ultimately provide our shareholders with enhanced liquidity,\" said Liberty Chairman John Malone. \n\n\n     -Tomi Kilgore \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2024 08:52 ET (13:52 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}